Cost of installing solar panels

The price of going green

There are many monetary and non-monetary benefits associated with making the decision to move to solar energy. Monetary benefits can be seen with a drastic reduction or even an elimination of local electric utility costs. In addition the solar PV panel system that you install on your roof will mostly like last for more than twenty-five year, and potentially up to fifty; meaning that the return on your initial investment can become quite size-able. Furthermore, once you cover the initial cost of mounting your system, you divorce yourself from fluctuating energy costs. Unfortunately, it is this original cost of installing solar panels and purchase of these photovoltaic cells for sale; which is the major detractor and obstacle for homeowners, business owners, and corporations from making the leap into clean technology.

Overview of Initial Costs

The specific price associated with the installation of solar panels, like BP Solar panels, for example, can vary greatly from project to project. The solar panel system required to support a typical American house will depend on the home’s energy consumption. The same holds true for commercial projects. In addition to energy consumption, quality is a factor in determining price. The cost of installing solar panels in a typical home can range anywhere from $6,000 for a basic setup to $20,000 for a robust solar photovoltaic system. What makes this expense more palatable is that there is an extensive incentive, rebate, and tax credit network of opportunities associates with many of the clean technology solutions, and solar energy is no exception.

Incentives, Rebates, and Tax Credits

In the past few year, federal, state, and local governments have made a full commitment offering incentives to anyone interested in making an investment in solar and renewable energies.   In fact, many of these incentive programs have been increasing as the state and local governments have followed the federal government’s lead by establishing add on benefits for homeowners and business owners alike.  These benefits make allow the cost of installing solar panels to be more reasonable for the average homeowner.   To further increase the availability of solar panel technology to the typical homeowner, financing options have been created that help homeowners create effective cash flows since many of the cost savings associated with the installation of solar panels does not occur until much later after the system have been operational.

As mentioned earlier, many state and local authorities have gotten involved with offering homeowners, business owners, and corporations new and creative incentive packages to help alleviate the cost of installing solar panels.  In some states, they are offering to buy excess electricity produces by these systems.  In this cases, homeowners and corporations may actually find themselves getting a monthly check from the local utility company.  At the federal level, other incentives allow cost associated with renewable energy technologies to be included into energy efficient mortgages.  As solar energy continues to gain momentum, it seems the incentive packages and costs savings will continue to increase, allowing more attractive options for homeowners and businesses alike.

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