Solar panels are used to convert solar energy into electricity. It consists of number of photovoltaic cells connected to each other. The module is rated according to its DC output power produced which range from 100 to 350 watts. The solar panels have efficiency depending on the area covered by it. Installation of solar panel includes multiple modules connected to each other, results in producing more power.
Solar panels require very low maintenance Now-a-days use of solar panels have been drastically increased.
Installation cost of solar panel
The installation cost of solar panels differs from country to country. The maximum time required to install the solar panel in today’s world is two to three days. The Axiom Solar panels require just two days for its set up. Also the incentives rates differ from country to country.
The pricing of installation of solar systems at your premises includes various factors such as government incentives and support, contractor installation cost, types and number of panels used, etc.This results price varying from $3000 to $11500 for 1.5 kW to 5 kW systems respectively.
Enhancement and improvement in installation cost of solar panels
Government Incentives and Support
Federal Credits over Tax
Most of the government now provides tax credit to the owner of the solar panels. This tax credit means the tax deduction is made over the export of the excess energy produced by the PV modules. This in return is beneficial for the owner of the house.
In this it allows you to store the excess power or electricity to use it later. For example the system produces more electricity in summer than other days then this energy is revert and stored in the meter to use it later. This smoothen the ups and downs in production of the electricity that is being produced less in winter.
Contractor Installation cost of solar panels
According to the U.S. census done in 2008, the home is approximately 2,000 square feet and such a huge structure will approximately requires three to four kilowatts. The average pricing rate for a residential system after any rebates is around $12,000 per 1kW. This means that the average home system is going to cost approximately $36,000, but the prices vary extensively from region to region (for example, the building situated in hotter climate will consume more kilowatts).
The value of installation cost of solar panel will overall comprise local, state, and federal rebates and the programs which help to encourage and reward such improvements to the home. There also exists the financial savings to be considered over heating and cooling costs, which are the most important aspect contributing in expense in most households.