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The True Cost of Solar for Your Home – Does it Add Up?

It has been mainly circulated that a home solar energy saves on someone’s money, increase the property’s value, and helps to protect the environment. However, it is always appropriate and preferable to evaluate whether the claim is true or not before adopting a solar energy system for your home. The evaluation should be on the basis of the cost for a solar panel, the number of solar panels required, the amount of money that the solar electrician or the constructor is going to charge to install the solar panels, as well as the return on investment for the installed solar energy system. Therefore, it is necessary to answer the question whether it adds up to install a solar energy system for your home.

The cost of a home solar energy system varies tremendously on the basis of location, the quality of the solar panels, type of inverters to be coupled with the solar panels, and the kind of contractor or the solar company you are working with. The solar panels cost varies depending on power requirements for your home. If your home requires a lot of energy to power different appliances, you will definitely require more solar panels. The more the solar panels in your energy system, the more the cost for the entire system. When the solar energy system is large enough, it will also require a powerful inverter to convert energy from direct current (DC) to alternating current (AC). The inverter will also come with its own cost which will add up to the system. The energy system could be grid tied or off grid. When the system is grid tied, it means that you will be working with a solar company which shall provide the grid where the excess power can be sent to. Also, when your solar energy system is off-grid, it means that you’ll require batteries for energy storage. Hence, the cost of the batteries should be factored in.

Long-term, a solar energy system should have a good return on investment to be considered viable for your home. Having done some research, the average cost by solar system size looks as follows;

 

Energy System Size

Average Cost After Tax

5kw

$11,000

6kw

$13,000

8kw

$18,000

10kw

$22,000

For an accurate quote, you should contact a reputable and certified solar energy company in your area.

 

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