So how much does a Solar System Cost?

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The all important question  of ahow much a system costs at the end is an important one. beofe you panic that the cost may be too high, work backwards and see how much you could theoretically put on your roof (the maximum power output that your space would allow). Then you determine how much money you want to save (i.e. offset off your electricity bill). Then use the guidelines below to determine the approximate cost for your system - before any incentives. Keep in mind that you will be able to get substantial federal in many states local tax incentives. You can find more information about incentives in your area at the DSIRE (The Database for State Incentives for Renewables and Efficiency).

 

Then match up your budget with the cost and now you have a realistic number to get started!

A self-installed solar electric system will require a solar array, a controller, and a battery pack, which are roughly $7 for each watt, with a +/-10 percent variance. You can expect a solar system using the grid tie setup to cost more due to the higher efficiency grid tie inverter, which is more costly, though the system does not need batteries.

By law, you will also require a qualified and experienced electrician to certify your self-installed solar electric system before it can be used. In the United States, certified or approved solar panels must be used for any grid installation. You will therefore need to allow for a budget of $5-$7 per watt, again with a +/- 10 percent variance.

 

Having trouble meeting the budget?

Looking over the costs, you have two options: forget the whole idea, or retrace your steps and decide which parts can be adjusted or discarded in order to bring down the cost.

The best step at this point is to return to your first power analysis, on which the installation scope is based, and scrutinize it for possible savings. Check the different equipment’s efficiency, choose the equipment that uses less energy, or change the way your equipment will be utilized.

Once you have decided to go ahead with a solar electric system, there will always be alternatives to choose from so that you can adjust the costs and follow through with the installation. You may have to make less than desirable choices, discarding one or more of the initial components in order to get your installation in place in the way that works best for you in the end.

 

 

Leasing and Financing

Read more about Financing or Leasing your Solar System in this article: Financing for Solar Installations