You've become interested in solar roofing after hearing many people's success stories about the technology. However, you're initially put off by the enormous acquisition costs because of your tight budget.
You can invest enough cash for full-house solar power conversion and ask yourself whether it's worth having a solar roof before finalizing your decision.
We don't blame you for having doubts about solar technologies because power lines are still immensely reliable for properties. However, consider the following situations homeowners face and can receive with solar panels.
Power lines are exceptional technologies because they have a stable power current and supply. However, it's a costly long-term small investment because coal power generation continues to become progressively expensive.
Solar panels can offset your power costs or take over your property's power generation completely.
Local governments in the country provide significant incentives and tax breaks for using solar technologies. You can add these incentives as part of your energy savings, too.
Solar panels have high acquisition costs. However, they return your initial investment within a single year.
You might feel like you've spent a fortune with a solar panel installation until after you receive your first electric bill and overall savings yearly.
NerdWallet has a great post about total solar panel costs you should know. Read more about it below.
1. Review your electric bill
Solar panels generate their own power and can therefore greatly offset your monthly electricity bill, if not eliminate it. The higher your bill, the more likely you'll benefit from switching. But you should note that electricity rates and usage — the main charges on your statement — are volatile.
"If a utility’s electricity prices fluctuate, so could the amount of savings," says Garrett Nilsen, deputy director for the U.S. Department of Energy's solar energy technologies office. "Similarly, if energy consumption changes, the amount of savings can also vary."
2. Evaluate your sunlight exposure
More sun means more energy produced and a greater potential to save with solar. Certain states, like Arizona and California, average more sunlight hours per day.
Your home's orientation toward the sun, the amount of shade and its roof type also affect a solar system's output. You can estimate the efficiency of panels in your area by using the SolarReviews calculator. Enter your address and the average cost of your monthly energy bill.
3. Estimate residential solar panel cost
The brunt of the expense with solar panels is in installation and the purchase of the actual panels.
Minimal long-term expenses can make up for the upfront costs. “Most systems don’t require much maintenance and are designed to last for 20 years or more with little change to the amount of electricity produced,” Nilsen says.
When calculating the total price, consider how much energy you regularly consume — your usage is listed on your monthly utility bill — and what size system will generate the amount needed. Some tools, like the SolarReviews calculator, estimate the system size for you.
With installation, an average residential 5kW size system costs between $3 and $5 per watt, according to the CSE, which results in the $15,000 to $25,000 range. That cost is before any tax credits and incentives.
If you know your current energy usage, you can calculate how much you’ll need to pay for solar panels. (Continued)
Roper Roofing and Solar provide only the most dependable solar panel installations in Littleton, CO. Contact us today to learn more about our services!