FACTORS THAT AFFECT SOLAR PANEL COST

People who install solar system get many benefits, namely lower electricity bills, lower carbon footprints, and higher home values. But these benefits usually come with significant installation and maintenance costs. This is worth the many advantages. With solar panel costs getting cheaper every year, there has never been a better time to use solar power now.

The cost of installing solar panels depends on various factors, including the country, brand of equipment, and personal energy use. That will lead to the question: how much does it cost to install solar panels? Here is the explanation.

Usually, the cost of installing solar panels is shown in the cost per watt. It just tells how much will be paid for the power that will be generated by the system. To make sure you get the best value from your installation, you should consider more than the price. You should focus on the quality of the installation and equipment.

If a solar company charges a very low price, it may be an indication that they are cutting corners. They may use equipment that is of low quality or lacks best installation practices. Solar is energy that requires a 25-year commitment and part of what you pay for is 25 years of customer service.

Some of the factors that determine the cost of a solar panel system are the size of the system required, the location of the house, the amount of sunlight that can be expected, incentives, and equipment used.

1. Solar System Size

The size of the solar system plays a major role in determining the number of installation costs. The size of the solar system is measured in kilowatts which tells you how much power the panels will produce. The size of the solar energy system needed depends on how many kilowatt-hours (kWh) of electricity your home uses and how much you want to reduce your electricity bill.

The bigger the system you need, the higher the total cost of installation. But the cost per watt of larger systems is often lower because equipment can be purchased at wholesale prices and other overhead costs will be spread over larger systems.

2. Home Location

The location of your home affects the price of diesel in the following ways:

• How sunny your area is: the less sunlight your home gets, the more panels it will need to cover your energy needs and the more expensive it will cost
• State Incentives: Some countries provide incentives to citizens who install solar panels. This can greatly reduce the cost of installing solar panels but some local cuts can help reduce costs. You can read more about these terms.
• Market Conditions: Local competition between installers, the volume of work, business overhead costs, labor costs, and different country policies can determine the cost of solar panels.

3. Equipment Type and Manufacturer

Just like many other things, brands determine the price. Panels from certain solar manufacturers are more expensive than others. That doesn’t necessarily mean that they are much better at performance rights. There are solar panels that are cheaper but have almost the same specifications and good reviews.

Solar Panel System Cost Details

4. The Brand of Solar Panels Is Not The Thing That Affects Prices

Other equipment used in the solar system will greatly affect the installation cost, for example, the type of inverter used. The price of microinverters is more expensive than string inverters but can produce higher electricity production.

The type of solar panels installed can also affect the price but only slightly. Most solar panel systems are monocrystalline but some homeowners can opt for polycrystalline panels to save a bit of initial cost. You can get a better idea of ​​the different types of solar panels.

The racking system installed will also change the cost of installation. If you live in a place that experiences snow or hurricanes, you may need a more durable shelf which can increase the price.

5. Roof Age

If your roof is old and needs to be replaced, then it is very important to replace the roof before installing the solar panels. This is because when you have to replace the roof, the solar installer has to go back and remove the panels so the roof can be replaced and re-installed. Instead of having to bear the cost and inconvenience, it is easier to just replace the roof when the panels are going to be installed. Having to replace the roof before installation means that the total installation cost goes up.

6. Structural Problem

This is closely related to the age of the roof and applies to the cost of installing solar panels in the same way. If your home is old and in need of some structural repairs, you may be forced to take care of it first before you can install a new roof. If you fail, then it will cause a situation where you have to re-install the panel. Ignoring structural problems can result in damaged panels or cables.

7. License Fee

Different regions certainly have different regulations regarding the installation of solar panels. In some areas, this process may require a contractor who costs more than average or spends more time than usual to obtain a license. The contractor may charge additional costs from the arrangement process to you as the homeowner. Then, this will increase the total cost you have to pay for the installation.

Does solar really pay for itself?

Solar panels pay for themselves over time by saving you money on electricity bills, and in some cases, earning you money through ongoing incentive payments. Solar panel payback time averages between 5 and 15 years in the United States, depending where you live.

Does solar panels increase home insurance?

Most rooftop solar energy systems are covered by standard homeowners policies, which doesn’t change your insurance plan. However, you may need to increase the amount of coverage on your home to account for the cost of the system which can then raise your premium.