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Cost Of Home Solar Panels

There are many ways to determine the cost of solar panels for your Gilbert Az home. This will only give you a rough idea of how much the installation is going to cost. A more approximate estimation would be provided by an expert, but is worth the time and money, especially if you find a contractor who will give you a free estimate.visit home solar panels install cost gilbert az for more information.

Estimate the Electricity Consumption

The first step to determine the cost of solar panels is to make an estimate of how much energy is used in your home each month. The monthly utility bills will provide a more accurate estimate. Please note the consumption from several bills and take an average of the total of all those bills. The size of the solar panel installation would depend on the electricity consumption or requirement.

Size of the Installation

The biggest factor in determining the cost of your home solar panel installation is its size. Usually, systems producing 1 to 5 kilowatts are sufficient for an average Gilbert Az home. As a general rule, remember that a system producing 1 W needs around 1 square feet of area. The initial size may be kept low and increased later according to the requirement by using grid-tied systems. This way, the initial investment would greatly reduce.

Know the Rebates and Incentives

If the incentives and rebates offered by the state and federal government are properly known, the cost of the home solar panels can be greatly reduced. There are a number of Gilbert Az residential incentives available like Cape Light Compact – Residential Energy Efficiency Rebate Program, Residential Renewable Energy Income Tax Credit, Renewable Energy Property Tax Exemption, Renewable Energy Equipment Sales Tax Exemption, MassSAVE (Electric) – Residential Energy Efficiency Programs, among others. Other programs offered by the Federal Government are also available.

Do the Calculations

The actual cost of the system would depend largely on the above factors and a few others, the formula for calculating the cost of solar panels in Gilbert Az remains pretty much the same. The initial investment can be figured this way: Retail price for Solar Panels (Depending on Size) + Labor and Installation Cost + Building Permit – Federal Tax Credit – State Tax credit – Utility Rebate

This initial investment would be recovered over time in the form of smaller utility bills. It is important that you know the various rebates, tax credits, and incentives available. The estimation of the required installation size should also be done by an expert so that an optimum size could be installed that would fulfill or complement your electricity requirements.

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