With the 30% government tax credit reducing at the end of 2019 many American houseowners are asking themselves whether they need to install solar panels for their homes in 2019.
The answer to this question depends on where you live, how much roof space you have, whether it is shaded, how you make use of power and what your regional utility charges you for electricity.
Here are all the important things you need to think about before installing a solar power system for your home;
1. Ensuring your roof appropriates for installing solar panels
There are a number of aspects that figure out how ideal your roof is for solar panels including the dimension of the roof, its direction, its pitch and also whether or not it is shaded during the day.
Does my roof need to face due South for solar panels to produce electricity? While solar panels dealing with due south do create one of the most overall electrical power it can be perfectly fine to have panels facing southwest or southeast without excessive loss of electricity generation.
2. The price of solar panels for your specific home
The Solar-Estimate solar calculator is the most effective method to estimate the price of solar for a specific home because it has the electricity rates charged by each utility company in its database as well as accurate solar panel manufacturing data for each location around the USA.
In its solar power system cost calculations, it uses average solar costs for your city. You can select to open access to each specific solar companies prices if you select to enter your details and request quotes.
The price quote you access completion of this process is extremely comprehensive and includes your cost, savings, payback period, investment return, loan and monthly payment options, the environmental benefits, cash flow graphs, etc.
How much does it cost to install solar panels for a typical house in 2019? The DOE-funded, Lawrence Berkeley institute releases prices of 90% of residential solar power systems set up in the United States. This data reveals the average solar power system expense is currently $3.89/watt.
Information from Solar-Estimate.org, the biggest customer solar estimator in the US, reveals the average costs of a residential solar system in 2019 is 3.08/watt. For a typical 6kw home solar system, this is $18,480 prior to the solar tax credit and $12,936 after claiming the credit back on your taxes.
3. Installing your own solar panels
It’s not impossible to buy solar panel kits and then organize the installation, permitting and inspections yourself. Doing this can save you $2,000 – $3,000, possibly more.
However, there are some possible pitfalls. The installation itself is dangerous, there is the real opportunity of damaging the devices, and it’s not easy to claim on a solar warranty without a solar company to support you.
Do It Yourself solar projects typically suit those who are specialists or who know a solar competent electrician to help them out. If you are considering DIY solar panels, then I suggest that you checkout this article: DIY Home Energy System Review to learn more about the projects.
4. The quantity of solar panels needed to power a house
The quantity of solar panels you will need to power your home will depend on two aspects:
- The amount of electricity you use;
- The Location as it determines how much electricity solar panels produce.
There are on-line solar calculators that can take your monthly power spend as well as location and also workout how many solar panels you need and the cost based on prices of solar companies near you. The solar calculator on solar-estimate.org is possibly considered the most effective.
5. How long do solar panels last?
Solar panels have warranties lasting 25 years and also often 30 years with premium brand names. Some old 80-watt Seimens solar panels from the 1970s still creating 60 watts, nearly 20 years after the end of their warranty. So the 25 year warranty duration may not be the full life of your solar panels.
6. The need of solar battery
Do I have to buy a solar battery if I install solar power panels on my house? Basically, NO it is not necessary to setup a solar battery as net metering allows you to store the economic value of solar electricity that is produced by your solar during the day that is in excess of the power needs of your house at the time it is generated.
Even though the Tesla Powerwall is now only $7,800 plus installment they still take virtually one decade to pay for themselves. Net metering allows you to economically keep the value of the power that your renewable energy system creates without requiring to pay for a solar battery.
7. The investment return
Are solar panels worth the financial investment given 2019 solar rates and tax credit? The financial investment return on solar panels is now more than the financial investment return you can get from numerous standard financial investments like shares or property, particularly in states with high electrical energy rates.
An internal rate of return on the cost of installation of solar panels on your home averages 12.7% throughout America but is as high as 22% in Massachusetts and parts of Southern California. You will certainly save money with solar panels through paying less to your local electricity company for power.