Solar panels are usually sold by the watt. A 300 watt solar panel, for example, produces 547.5 Kilowatt hours of electricity after five hours in direct sunlight. However, solar power will not be as efficient in winter.
The cost to install solar panels will depend upon where you live and the climate. For instance, the east coast has less sunlight than its counterparts, while the midwest is exposed to five hours per daylight hour, compared with six on the west coast. A second-story roof will be required to house solar panels. This roof will cost more than a flat one.
You can save up to $30,000 depending on the size and duration of your solar panel system. There are a number of tax credits and incentives that can help lower the cost of solar panel systems. These tax credits are available in many States. These tax credits can be valued at between 26% to 22% of the total cost of the solar system. Solar panel systems may also qualify for state tax credits.
The size and type of equipment used will also affect the cost of solar panels. For a house measuring 2,000 square feet, solar panels will cost between $18,500 and $42,000. The cost of solar panels for a 3,500 square foot house will range from $19,000 to $32,000.
The amount sunlight your area gets will influence the size of your solar panel system. The best panels produce more electricity per watt than ordinary solar panels. The panels can be purchased cash or financed. Most solar panels come with a 25 to 30 year warranty.
Commercial solar will have a lower cost per watt due to economies of scale. A commercial solar system will cost more than just solar panels. It will also include solar contractor fees and installation. Depending on the size, the cost of a commercial solar system will vary from $2.87 to $4.22 per watt.
There are also tax incentives available for commercial solar systems. The Class 43.2 Accelerated Cost Cost Allocation can provide a higher rate return. In addition to tax credits, commercial customers may be able to take advantage of community solar programs. Many energy companies offer local rebates for solar equipment. The cost of commercial solar will also depend on the size of the system, the equipment type, and the location.
A 5,000-watt panel of solar panels will cost between $5,600 and $6,400. This cost will include the solar panels, the inverter, and other parts. Ceramic tile roofs or slate roofs will have higher installation costs. For a 20 kilowatt solar panel installation, the cost will range from $15,170 to $24,500.