Some Solar Panel Expenses You Will Want To Consider

Balance of System

Balance of System (BoS) is a title that primarily refers to all the extraneous “equipment” that is required outside of the solar panels themselves. This involves all types of wiring and electrical components needed to keep your system functioning. These elements make up about 20% of the total expenses of your system installation.

Inverters

These are vital components of your residential solar system as they are directly responsible for converting direct current (DC) to alternating current (AC) which is what powers your household appliances and allows you to get energy from the grid. Inverters will fetch you about 10% of the total price of installation.

Installation

Installation prices, like with anything you install in your home (that you don’t do yourself), will cost you some money. As far as domestic solar system installations go, this will contribute to about 15% of your overall costs. And these expenses include everything from the labor to the permits you’ll need to obtain from roofers (to make sure your roof can bear the weight of the solar panels you are planning on installing) and your utility company to enable you to connect your solar system into the grid.

Maintainance

Lastly, once everything is installed, you’ll require to take into account the operational costs to keep your system well-oiled and maintained. These kinds of maintenance costs will make up about 20% of your overall costs.

Solar Financial Incentives

Based on the federal solar tax credit, you’ll get a 30% rebate off the top of your residential solar system installation. This solely is a huge incentive. On top of this though, your state might offer additional discounts and incentives for installing a home solar system. Some homeowners might even be able to cut off 50% off the top of their costs because of the rebates and incentives they are eligible for. Just as utility expenses vary state by state, these incentives can also differ state by state.

Incentives

One excellent resource to use to determine what your state allows is the State Incentives for Renewables and Efficiency (DSIRE).

Troubled that you don’t have the money to spend? Some solar installers are extending tremendous financing options, with $0 money down. In essence, the growth of the solar market is now significant enough to reach almost everyone.

Ready to Bite the Bullet?

Once you’ve done your investigation, talk to as many people as you can who have solar systems installed in their homes. Learn what the pros and cons are of domestic solar system ownership. Discover what you’d save. Estimate out the steps you’ll need to go through to get one installed. And get various quotes. As a recap, here are all the things that might potentially impact the expense of your system:

Equipment

What varieties of solar panels will you install? How is your house set up for panel placement? What type of roof do you have? Is the angle and attitude of your roof optimal to capture sunlight? Will you be attached to the grid? How big of a system will you need?

Permits and Labor

What varieties of permits will you need? What types of professionals will you need to call? What will you require to do if a roofer assures you your current roof will not bear the weight of solar panels? What hoops will you have to jump into with your local utility supplier?

Just make sure, and promise us here at HahaSmart you will have a look at what we can offer you on the cost of solar panels and cost of solar installations. We will strive to find you the best prices available. Follow the solar experts. Try our price checker tool. It tells you how much solar power you need and how much you can save on your energy bills each month.