Cost of Solar Panels and Installation

13/05/2013 14:27

Are you frustrated in paying your high electric bill? No need to worry anymore, as every problem has solution this also does. With the advance of science and technology there are numerous ways and techniques had been established by which you can easily made your bill comes down without any trouble. Rather there are also various eco-friendly application invented which are not only cost effective but also are equally responsible to solve your problem.

One of such environment friendly devices is the solar panel. It is the most cost effective and easy to install application still now launched in the market. It bears various advantages mostly in reducing the charge of electric bill. It is readily available and comes in cheaper price, so you won’t have to cross the expense barrier in installing it in your home. Depending on the location and site of installation it ranges from 3-7 kilowatts which cost near around $18,000 to $40,000. In US as per survey records in this year over 20,000 homeowners have switched themselves to solar technology. Now it’s your turn, the cost description is stated below. The main cost of residential solar panels is sub divided into three major heads which are equipment costs (45%), installation and permitting costs (25%) and sales, operational and marketing costs (30%).

Equipment costs

  • Power inverter – It converts DC into AC when connected to grid and available at $1,000 to $3,000.
  • Solar panels – It is residential photovoltaic cell and comes around $4,500 to $12,000.
  • Mounting hardware – It varies from home to home and location to location which includes rails, standoffs, clips etc. which cost from $800 to $2,000.
  • Wiring – It includes disconnects, wires, wiring and several other components cost around $1,000-$2,000.
    Installation and permitting
  • System installation – It is the installation charge which you have to pay to the installing authority that ranges from $2,000-$4,000.
  • Fees and permits – This is the local inspection and permitting fees which can extend up to $2,500.
    Sales, operational and marketing costs
  • Monitoring – Services and monitoring equipments charges up to $1000.
  • Repairs/maintenance – It is a variable cost and can increase on replacing inverter which you have to do one to two times during the whole span of the system
  • Apart from all of this cost there is some additional cost which can range $4,000 to $9,000 on every installation.

There is no other hidden cost apart from the above stated ones. So what’s there to wait and get frustrated in paying high electric bill? Is this amazing or what?! It’s your time to have good monthly savings. Installing it in your home will also be a greatest step to save earth as it is totally environment friendly device which is based on renewable solar energy. Another great way to save energy is to get home window treatments that are specifically designed to save electricity. For generating electricity there is no other cost effective device other than solar panel. So without wasting your time anymore put your step in this eco-friendly world and generate electricity by own without depending on others.