SOLAR POWER INSTALLATION SO HOW MUCH DO SOLAR PANELS COST?
Before a system can be installed, the location needs to be assessed. You’ll need to have a very good understanding of the arc the sun takes as it crosses over your house, and not just during the summer, but year-round. You’ll then need to calculate the amount of energy you use and how much you plan to produce. This will establish the number of panels and the type of storage you’ll need. You may want to rely on the professionals for the installation part of the project since it could involve placing 20 or more panels on the roof or in an open space near the home. CAN I JUST BUILD MY OWN SYSTEM? We asked Alex if customers can build their own systems and he said, “They can and they do. But much like saying a homeowner can install their own high voltage electrical service, rewire a panel, or install a generator, do you trust yourself to perform the work in a safe, NEC-code-compliant, and electrically sound way? There is a reason why Electricians are required to attend 4 years of school and have 8000 hours of work experience. Generally, the cost breakdown on solar is ⅔ equipment, ⅓ labor, overhead, and profit. If you damage your equipment, or worse, cause damage to your home, is it worth saving ⅓ the cost over using a solar contractor?” He also mentioned that building a system yourself might affect your ability to take advantage of rebates from the utility company or the government. He explained, “Incentives can be upwards of 20-50% of the cost of your system. Many of those would not be available to a DIY customer.”
There’s a wide range of costs associated with solar panels, depending on many factors such as whether you install them yourselves, how many you need, what kind of unit you’re using, and the cost of labor in your area. However, if you’re talking about a professionally installed, whole- house system for an average-sized house, you’ll be looking at between $18,000 and $36,000. Alex offered a more generalized view saying, “Solar is much like a kitchen remodel: the cost all depends on the needs and sizing, angle to the sun, and other environmental factors. Generally solar can be paid for upfront by the consumer, or financed with 0% down on a long-term basis. The NPV (net present value) of cash flows in either scenario is still beneficial.” Similar to a mortgage, a loan on solar panels means money is going towards that loan for a period of time. Once the loan is paid off, however, you’ll have net savings for the life of the system.
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