Home Improvement DIY

Although most people love the idea of having solar panels to generate their own power, one of the main things that put them off is the initial costs.  In order to power the average home you’ll need pretty large solar panels.  Solar panel systems typically cover the whole of the south-facing roof in order to get the most light.  These panels can cost anywhere between $10,000 and $16,000.  And that’s just for the actual panel; you’ll also need to factor in the cost of batteries and installations, bringing the total cost up to $32,000 to $50,000.

Rural Areas – For some this cost may not be worth it but for others it is.  Perhaps you live in a rural area where power cuts are frequent; therefore having your own power supply frees you from this hassle.  Storms can cause trees onto power lines and transformer blow out are not unusual so it’s not surprising the solar panels are what many people are opting for.

Bear in mind that it can take 20 years for the solar panels to pay for themselves.  So dealing with the occasional power cut might not seem too bad.

Other Buying Options – Luckily, you don’t have to buy a solar panel system outright.  There are grants available plus you can even rent the system instead.

Outright payments and Federal tax rebates can help a lot.  In most states you will find that utility companies can reduce the costs for you.  If you produce more electricity than you use you can even sell that excess to the grid.

It’s bizarre that utility companies encourage you do buy less electricity from them but because of regulations this is in fact the case.

Lease Your Panels - There are even some companies who will lease the panels to you much in the same way as you lease a car.  Overall it will end up costing you more but it means you don’t have to cough up that initial lump sum.

Because most people these days don’t spend longer than seven years in their home forking out thousands of dollars on a solar system can be off-putting.  Ok, so it will increase the value of your home but probably still not enough to justify the cost.  This is why leasing is so great; when you want to move, simply have the panels returned.

Because of increasing utility bill costs, concerns over the environment along with the great financial incentives, solar panels are becoming a more practical and feasible choice.

 

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