7 Expert Tips for Confidently Determining the Cost of Solar Panels
If you've ever felt overwhelmed trying to calculate the cost of a solar panel installation, you're not alone. Many people find themselves struggling with this exact challenge.
After reading this article, you will have everything you need to calculate the cost of your installation.
The following are seven tips to eliminate any confusion you may have.
Tip number one will save you thousands… Let’s jump right in!
Unlock Massive Savings: How to Save Thousands with the Federal Tax Credit.
Okay, so you have done a bit of research on solar panels and the benefits they can bring. There is only one problem that remains: the price!
Don’t worry; The US government has your back. The investment tax credit, or ITC, is a 30% Federal Tax Credit for solar investments.
If you purchased a solar installation for $15,000, your tax credit would be $4,500!
Discover More Savings: Understand Local and State Incentives
A 30% federal tax credit is excellent, but local incentives exist. Depending on your area, you may be in luck.
Unsure how to look for local incentives? Finding more discounts can be as easy as a walk in the park. Use this convenient solar cost calculator.
I used the calculator myself, and here are a few key points I received ( without battery)
System cost range: $16,000 to $19,500
Residential clean energy tax credit: $5,029
Understand Two Crucial Variables: Energy Use and Peak Sun Hours
To help calculate the cost of a solar system, let’s figure out the average amount of energy you use per day and your peak sun hours.
Divide your total energy use for the year by 365 days. This number is your average daily energy use. To find your peak sun hours, use this chart.
If you used 12,227 kWh over a year, divide 12,227 kWh by 365 days. You will get an average daily use of about 34 kWh.
Determine Your Largest Cost: Number of Panels
You can calculate the required panels now that you know your energy use and peak sun hours.
Use this equation to find the number of panels needed:
Here is the math step-by-step, assuming you use 34 kWh per day, have 400kw panels, and have four peak sun hours:
Be Prepared to Spend More: Don’t Forget About Hidden Fees
Solar panel cost involves more than the price tag; consider additional expenses.
Here is a list of expenses to consider
Maintenance — $160 two to four times a year
Cleaning — About $25 per panel, once or twice a year
Panel Repair — A few hundred to around a thousand
If we add maintenance and cleaning fees, you can expect to pay around $650 annually.
Plan for the Worst: Consider Energy Storage
Solar panels will keep your power on during the day, but you won't have any power if there is a blackout at night.
Adding a battery to your installation will solve this problem, but they come at a price. Batteries can cost around $10,000 after purchase and installation.
Using the SolarReviews calculator, you can add a battery installation to the quote. It will give you a few options, so choose the best for you.
Installers Aren’t Cheap: Know the cost of installation
Don’t forget to add labor to your solar budget unless you intend to do the installation yourself.
Paying for installers will cost around 15% of your solar system.
If you spent $20,000 for a solar system, you could expect to pay around $3000 for installation.
Time to get started
Congratulations, you're now equipped with the knowledge to confidently determine the cost of your solar panel installation!
Imagine a future with clean, renewable energy powering your home while saving thousands on your investment.
Take the first step towards a brighter, greener future today.
Embrace the sun and calculate your solar panel costs now. You've got this!
Battery Innovations
Image by Squarespace
Renewable energy is needed now more than ever. The climate is changing, greenhouse gases are increasing, and air pollutants are spreading through our wonderful cities. However, there is one major problem that needs to be addressed before we completely switch to renewables.
The problem is the weather changes. What will you do when the sun doesn’t shine? when the wind doesn’t blow? Energy needs to be supplied regardless of weather conditions and this is why batteries are so important. They are perfect for storing energy and meeting demand when needed.
In this article we will talk about a few exciting innovations in batteries!
500 wh/kg batteries
Image By CATL
On April 19, CATL, a Chinese power house of batteries and technology, launched a new cutting-edge lithium-ion battery technology With an energy density of up to 500 Wh/kg. According to CATL, this will enable commercial flight with battery powered planes. They are already working with aviation partners to enable electric passenger aircrafts. In addition to flight, they are planning to mass produce automotive-grade batteries later this year.
Apparently CATL is not the only 500 Wh/kg battery emerging. On March 23, Amprius, A renewable energy semiconductor manufacturer, announced their own record breaking 500 Wh/kg lithium ion battery.
Sodium-ion Batteries
Image by Leonardo
Electric vehicle demand is skyrocketing, causing a bottleneck in the supply of Lithium. There is simply not enough refining capacity to keep up with the EV demand, so alternatives to lithium batteries are being developed with Sodium-ion batteries appearing to be a winner.
Sodium is the sixth most common element on Earth which makes sodium cheaper to purchase. Lithium-ion and Sodium-ion batteries have almost identical designs with a few changes, which means the same machines can be used, lowering the cost of production.
CATL developed a new sodium-ion battery in 2021. Since then the battery has been improved upon enough to be ready to enter the vehicle market. Chery, a Chinese automaker, will the first to use their new sodium-ion battery.
Tesla Energy Storage
Image by Tesla
Tesla has two energy storage solutions: the power wall, and the megapack. The Tesla power wall is a residential storage battery that is attached to the floor or wall. Power wall is typically charged by solar panels and will keep houses running during an outage. It can store up to 13.5 kWh.
The power wall is convenient for homes, but Tesla has another battery storage product for commercial and utility scale projects, the Megapack. The Megapack is a collection of large-scale rechargeable lithium-ion batteries used for energy storage. The Megapack is sold per unit, each unit can generate 3 MWh. By design the Megapacks are safe, easy to install, and well supported with over the air software updates.
Pumped Hydro Storage
Image by Pfuderi
A hydro storage power plant contains two reservoirs of water separated by a difference in elevation. During the day, when electricity demand is high, water will flow from the top reservoir causing turbines to spin and generate hydropower. At night, when demand is low and electricity is cheap, water is pumped back up to the top reservoir to be used later. So, a Hydro Plant is essentially a giant battery!
A recent innovation by RheEnergise is increasing the efficiency of pumped hydro storage. They created a denser fluid known as R-19, which is used instead of plain water. R-19 is 2.5 times denser than water and can generate twice as much electricity with the same elevation. According to RheEnergise 65% of construction costs are from civil engineering. Making projects 2.5 times smaller is an opportunity for noticeable savings!
There are so many innovations happening with batteries it can be hard to keep track! This is a good problem to have. I am happy batteries are being launched forward by world leaders such as Tesla and CATL. Let’s see what technologies arrive in the near future!
5 Reasons for Installing Solar
Solar panels are all the hype right now. I thought it would be a great idea to help people understand why. So, I decided to write this blog post. Below, I outline 5 key reasons for installing solar panels on your home.
Live Off the Grid
There are many reasons for having solar panels, but let's start with my personal favorite, living off the grid. There is nothing quite like the feeling of freedom you get from knowing you are generating your own power. Generating your own power comes in handy If your neighborhood is unlucky enough to have an outage, you can rest assured knowing you are capable of generating your own power. Not only can you avoid power outages, but you can operate outsi/de of the grid. That means you can have electricity anywhere you want: a cabin in the woods, beach house, some far getaway only you know about. Just think of the opportunities!
Increase Your Home Value
Solar panels really do increase the value of your home. According to a study done by zillow, Solar panels can increase the value of your home by around 4.1% on average. I can’t think of a better reason to convince someone to install panels on their home. But, ofcourse, panels are a bit of an investment up front. If you want to make your money back on a solar installation you will need to wait about 5 to 10 years before you break even. That may seem like a long time, but solar panels are made to last around 25 to 30 years, which translates to 20-25 years of pure profit! Also, it’s important to note that plenty of panels last long past their guaranteed lifespan.
Reduce Utility Bill
Another way to save tons of money is by reducing your utility bill. Depending on the solar installation, you can reduce your utility bill drastically or completely altogether. You can even qualify for programs that allow you to get paid for the excess energy you produce. You heard right, you can sell your excess energy to the grid.
Take Advantage of Tax Incentives
How can I make a profit off of solar panels you ask? Well, first off, let’s talk taxes. There is a 30% tax credit you can qualify for. You get refunded 30% of the price of your solar panels, which translates to you getting thousands of dollars for free! Some companies also offer “free installations”, which is another way of saying you can lease panels on your home. There are other incentives as well, you can look at the State incentives for renewables per state.
Produce Clean Energy
On top of the financial incentives for people to invest in solar, you can reduce your carbon footprint by using solar panels. Solar Energy is clean energy, so it does not pollute the environment. Solar energy is also renewable, the sun won't go out any time soon.
Solar Panels will be a great addition to your home. In my opinion, The benefits out-way the cost. If your not sure how to move forward, You should consider getting a quote from a solar provider in your area.