There is no easy answer to what the cost of solar power for your home is. It’s very hard to nail down an accurate answer as there are many different variables to consider.
The primary cost is the initial purchase and installation of the solar energy system. You have to know several things to know what kind of system you need. These will differ depending on whether your home is being build new or already existing.
Your home may already be on the utility grid. If so, some information can be gained by viewing utility bills from the previous year. Investigate how many kilowatt/hours you consumed during the different seasons. Take the price you pay per kW/hr and multiply by the kW/hrs you used during the different seasons. This should give you the amounts of the bills. This is a way to show you how you spend your money.
There are online estimators available that can help you get an idea of how much the system you need will cost. These are generally good resources to use. On the downside, they are not available for all states. Regardless of whether or not you use them, you should also consider hiring a professional for an estimate before you finalize your purchase.
The estimator will ask you where your house is located, state and county. This will assist figure out how much sun the house will get every day on an average, as well as show the climate so the power needs can be determined.
To figure out the cost of solar power for your home, you will also need to enter past power usage. You will need a professional estimator if you’re your home is new. They will determine from all the info how large a system you will require.
Let’s take for example your needs require a system for your home that costs $40,000. Tax incentives and rebates might allow you to pay less than $30,000. To determine if the system will pay for itself, more complex calculations are required.
This involves differences like net-metering and the use of batteries for energy storage to be used later when it is cloudy or at night. They involve determining how much you will pay per kW/hr with your solar power system. Then, you can compare the savings.
The saving probably won’t be much until the unit pays for itself. Your solar system will get even cheaper by comparison when inflation raises the price of utility power. When the system has paid for itself you will then really experience the cost saving. A system has about a 25 year lifespan and usually pays for itself in ten years.
There is no easily available flat answer as to the cost of solar power for your home. To get a good figure, you need to hire some professionals to research your particular needs. I you do go solar, however, you will probably find it is well worth it, not only for your bank account, but for the environment too.