The cost of solar panels varies by the size of your system and how it’s installed, but for many homeowners, the upfront costs are offset by incentives and rebates. You’ll also need to consider the amount you expect to save on your electricity bill. In some cases, you may see savings immediately.
The first step is calculating your energy usage. You can use an online calculator to help you determine the amount of power your house needs, and some tools can help estimate your average utility rate. Once you know how much you spend on electricty a year, subtract the cost of the system from your annual spending to find out how long it will take for your solar panels to pay off.
Solar Panels in Dublin: Brightening the Future of Renewable Energy in the City
A home’s sun exposure plays a big role in how quickly a system pays for itself. The more direct sunlight a panel gets, the more power it can produce. You should also consider any outside costs, like roof repairs or upgrades, before making a decision to install solar panels.
Other factors that affect the cost of a solar power system include the type of installation company and the state where you live, as local quoting trends and system sizes can influence prices. The federal investment tax credit and state and local incentives can also lower the price of a solar system. In addition, most utility companies allow customers to sell excess power back to them. Some offer credits to encourage solar energy, and some even offer cash-back rewards.