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How You Can Estimate The Cost Of Solar Panels For Homes
Six Steps To Getting A Rough Estimate Of Cost For Residential Solar Panels
There are several steps you need to work through in order to calculate the cost of solar panels for your home.
1. Know how much energy you currently use (no pun intended!). By checking your power bill you can see how much you use. It’s advisable to list out your usage over a whole year because of seasonal fluctuations. Make sure you use actual readings rather than estimates which can distort the figures.
2. Carry out an home energy audit. Find out where you are using your power. Follow the 80/20 rule and look at the likely major users first. These will likely include water heating, cooking, refrigeration, laundry, and maybe air-conditioning /central heating and so on. To do this you need to look at the rated capacity on the appliances label. It will normally be stated in kilowatts (KW). You will then need to estimate how long they are each used for each day on average. This will help you target areas for taking conservation measures that will save you money up front.
3. Calculate the number of solar panels you will need using the information from step 2 above and the table below:
Source: US Department Of Energy – “A Consumer’s Guide to Energy Efficiency and Renewable Energy”
If you require a 2,000 watt (2 KW) system then with a 12% efficient PV module you will need 200 sq. ft. of panels.It’s important to note that the amount of direct sunlight your roof, where you install the panels, receives has a major impact on your solar power generation. This includes the orientation of your available roof space towards the sun.
4. You now have a reasonable indication of the quantity should be so you’re in a much stronger position from which to get accurate and comparable quotes from suppliers. If they say that you need more or less you are in a more knowledgeable position to ask why and clarify any particular issues your situation may have.
5. Don’t forget the installation aspect. Unless you are an experienced handyman then it’s wise to have a professional installer do the job for you. For 10 tips on choosing an installation contractor see pages 22-23 of our “A Beginner’s Guide To Solar Panels”. To get a rough estimate of cost based on industry standards you can use a cost per watt in the range of $9-$12. So for our example of 2,000 watts this should cost between $18,000 and $24,000 installed.
6. Look closely at Federal and State incentives to assist with your upfront costs of going into renewable energy because they can be considerable. These can be in the form of grants, rebates or tax credits.
Good luck and enjoy the benefits.
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