How To Calculate The Cost Of Buying Solar Panels For Your Home?
The concept of calculating the cost of solar panels includes the cost of materials used, the installation charges and the maintenance costs. The size of the solar panels used and the energy that it produces also determines the cost of buying such panels for one’s home. However readymade or pre-made solar panels are more expensive than the ones that a person builds. Thus a single pre-made panel would cost around $900 and this would in turn translate into a cost of $12 per watt.
The federal government, state government as well as local authorities grant various tax credits and rebates as well as different incentives in order to bring down the cost of installing solar panels in one’s home. If one wants to replace the grid-based electricity completely with solar panels in one’s home, the cost would approximately be in thousands. This amount would include the cost of installation of the solar panels, inverter box as also the required wiring and maintenance costs. The following steps should be considered while calculating the cost of solar panels for one’s home -
1. The amount electricity used
2. How much sunlight do you receive? Or in other words the place where is your home located in the country and the direction that the house faces.
With the help of the following instructions it will be possible to calculate the cost of buying solar panels for domestic use -
• Look at the monthly electricity bills to get a fairly accurate picture of the kilowatt per hour used in a month.
• Multiply this figure by 1000. The resulting answer gives the monthly watt per hour usage of electricity.
• Divide this number by the number of days in a month. This figure gives the daily average consumption of energy in the home in a single day.
• Determine the total hours of sunlight.
• Divide the daily average energy consumption by the number of available sunlight hours.
• Check the average sunlight hours that the home receives by taking into consideration the sunlight hours available during the day with the least duration of daylight. This figure gives the electricity that should be generated every hour of daylight in order to power one’s home. The cost of materials per watt of solar energy would work out to be around $7 to $9.
• Multiply the average watt hours by the estimated cost. This figure would be the cost of solar panels needed to power one’s home.
However the benefits of installing solar panels for one’s home far outweigh the costs. It safeguards one’s home from power grid breakdowns and increasing electricity costs. Further it also helps to protect the environment.