Going Green: How Much Does Solar Power Cost?
The Cost of Solar Power
Solar power can save you money. What was once a fad has taken off in a big way as government scientists look for ways to break our dependence on fossil fuels. Now that you understand solar power, can you afford it?
Solar energy will pay for itself once you have set up the system but the problem is the initial cost to the consumer to get the system going. For a business, these costs can be handled because there is usually more capital available. For a homeowner, it is not as simple especially in the current housing market where home equity isn't available to draw from.
The first step is to determine how much solar energy you will need to power your home. This depends on your current and historical energy consumption. With solar power, many families learn how to live on less to gain the most cost savings not to mention the potential to "sell" back the excess power to their local utility.
Some want to eliminate their energy bill altogether. That requires more solar panels than someone who wants to subsidize their energy bill with a residential solar power system. Professional solar kits can run you anywhere from $20,000 to over $70,000. This includes the equipment, the cost of having the site inspected and hiring someone to prepare the land for the panels if mounted in the yard or having someone mount them on your home’s roof. You will also need the services of an electrician to wire the components into your home electrical system - even if you are on a grid intertied system (uses a battery to store solar electricity until needed). The cost can be higher than stated above for larger homes or estates.
The federal and state governments are offering incentives to those who are committed to saving energy and reducing their dependence on fossil fuels. Government tax incentives and grants can be used to defray a portion of the overall cost. A knowledgeable solar installer should be able to provide you with the most current incentives.
For those who are ambitious and like DIY projects, you can create your own residential solar power system. Choose a DIY kit that gives you all the information and blueprints for the system. They may even suggest where you can find the component parts for a lower cost such as on eBay or at your local hardware store.
The key to success with a DIY system is planning, planning and more planning. If you are not committed to the task it can get overwhelming pretty quickly. But, it does keep you from paying such a high price upfront for the benefits of residential solar power.
Only you can decide if you can afford the cost of a residential solar power system. Think about reducing your energy consumption and other fuel costs to save money towards your new system.
Here's to Going Green!
