Solar power is derived from the sun’s energy which helps to convert it into electricity. This radiation which reaches the earth is then captured in a device called Photovoltaic cells. This cells then convert the sun rays into electricity and house hold appliances can work efficiently.
Complete installation cost of Solar Panel
A typical house in the United States requires around 20 to 24 kWh of electricity per day. A PV module requires to produce this much power must be of around 4 kW or larger. The cost of a solar system of this size is approximately $17,000 and ranges from $15,000 to $20,000 to be installed without any incentives consideration.
Average cost affecting the installation of Solar panel
To determine how much it would cost you to get solar panels installed to cover part or entire of your electricity bill, you need to determine the following parameters:
1. How many kilowatt hours or energy does your home use per month? (See electricity bill).
2. How much roof top area does exist to install panels on it? (South facing roof is preferred).
3. How many sun hours or daylight hours does your location get per day on an average? (Averaged over the span of a year).
4. How much can you afford to invest in offsetting or minimizing your energy bill?
Factors affecting the installation cost of solar panel
Prices vary depending on building and system configuration, its type and brand of equipment utilized and which company does the installation process. The type and quality of PV module as well as its size of the PV array used affects the final cost of an installation. Manufacturers price of their products are based on their efficiency and longevity. Solar Panels that retain their efficiency for longer time are usually more expensive. Mono crystalline units are the most costly but generate the highest amount of watts per area, so you will require only fewer panels and not much space. Also building integrated panels are also on the expensive, but they should be preferred choice if appearance is criteria.
Location can also have its big impact on the final price of a solar energy project. Federal and local governments in most of the countries offer financial incentives and net metering to make buying and installing systems more affordable for the customers. Prices also vary depending on local weather conditions. Due to very less sun hours per day, the cost per kilowatt installation is more in countries like Mexico