Home Solar Power: How Much Does a Solar Power System Cost?

Home solar power technology is one of the top choices when renewable energy for residential power comes to mind. It is now very much available for homes and appeals to many homeowners due to its increasing advantages. These advantages include the facts that it is an unlimited and free power source and it has quiet power generation features.

You may be thinking about installing some sort of solar energy at your home but you still have one question in mind. “How much will it cost to have a suitable residential solar system installed?”

This question seems very easy to answer but, unfortunately, it is not. Unlike common household appliances or even conventional power generators, it is not easy to immediately get an estimate just by basing it on the sticker price of the product.

However, for home solar power systems, also known as solar photovoltaic systems, there are a number of things that must be considered to be able to find a price range for your needs.

Home Solar Power Installation Cost Considerations

home solar power systemsTo give you an idea why the answer is more complicated, this question can be likened to asking someone, “How much does it cost to feed your family?”

We know that there are a lot of variables that one must consider in order to answer this question. In order to find an answer, let us look at the features or factors that will contribute to the actual cost of your home solar power system.

Your Monthly Electricity Usage

You don’t have to worry because you are not required to do highly complex mathematical calculation and data analysis to arrive at your monthly electricity usage.

All you have to do is get one of your most recent electric bills and simply get your kilowatt hour monthly consumption from the bill.

This will give you an idea of how much energy you need to generate in order to meet the desired percentage of your monthly bill.

This information is necessary for you to be able to decide on what type of material or solar power system you will purchase for your home.

What Type of Solar Power System Required

There are a number of different solar power systems available in the market today. You can choose from a variety of materials, but the most common type used is photovoltaic cells.

A photovoltaic system can cost around $7000- $10,000 for a 1kW system. This equates to around $7 to $10 per watt. An average American home with a two-bedroom house may require a 1 kW to 2 kW system. The price provided here is the sticker price without any rebates or incentives applied to it yet.

Where You Live Counts

This is important not for only for the supplier of materials to know where to deliver the items you ordered, but also to calculate or get an estimate of the number of hours the sun shines in your area in a day. Remember that the amount of sun on the East Coast may not necessarily be the same as the West Coast.

This will also be helpful for you to get an idea of how much solar energy you can generate using your solar energy system. In addition, the area where you live determines the amount of tax rebates and other incentives you can get for harnessing solar energy.

In some states, a maximum of 80% of the upfront cost of the system may be given back to the consumer in rebates and incentives.

Installation Costs

The cost of the installation of the system at your home depends upon the type of materials used to build your home, especially your roof. If your home has a roof that supports solar panel installations then the project may go smoothly. However, if you have one that could not support it, you may need to buy additional materials to support the installation.

Furthermore, the actual professional fee depends on the contractor you hire and the industry standards in your location.

There is no denying that the upfront costs of home solar power system can be quite expensive, but the rebates and state-specific incentives can easily offset a huge chunk of the cost. Fortunately, the yearly home maintenance requirements are quite easy and usually can be done yourself. Plus, the savings on electricity for the lifetime of the system can help pay for itself and the value of your home will increase.

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