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Solar energy is free but the tools that will enable you to harness this free power aren’t.

If you’re planning to install a solar energy system right at your home and would like to know how much it would cost, there are 3 things you have to consider:

Very first, the cost depends on how much power your home requires. More power you require indicates a lot more solar panels and higher cost of installation. The great thing is, the technology to harness the power of the sun is relatively less expensive than it was several years ago.

Second, the federal government is offering a rebate to those who will change to choice form of power. That signifies, the federal government will shoulder a portion of the total cost of the system.

Third, you can get tax credits whenever you switch to solar energy system. The amount of tax rebate depends from state to state however the variety can go from $1000 to $2000.

All these have an effect on the overall cost of your set up.

A photovoltaic system can cost roughly at $8000 to $10000 for every 1kW system. This equates to $8 to $10 per Watt. An typical American household with three bedrooms requires at least 1.5kW to as much as 3kW. Therefore, set up can cost from $14000 to $30000, before rebates and tax credits.

Government rebate varies from state to state. As a reference, an typical California home that demands 1.5kW system could possibly get as much as $4200 rebate (1.5kW= 1500 watts x $2.80 for every watt = $4200).

A home that demands 3kW system can get as much as $8400 (3kW= 3000 watts x $2.80 for every watt = $8400).

Before, tax credit goes as much as 30% but it’s lowered to 7.5% of system cost right after rebate.

Hence an typical household with 1.5kW system could possibly get $735 ($14000 – $4200 x 7.5% = $735) well worth of tax credit although the 3kW system can get $1620 ($30000 – $8400 x 7.5% = $1620) well worth of tax credit.

Instance A: 1.5kW system

Cost of solar electrical system: $14000 Less rebate: $4200 Less tax credit: $735

Cost of the system after rebate and tax credit: $9065

Example B: 3kW system

Cost of pv electrical system: $30000 Less rebate: $8400 Less tax credit: $1620

Cost of the system after rebate and tax credit: $19980

Again, they are rough estimates just to give you an idea of the cost of installing solar energy system. They don’t represent real figures.

Top tips:

Power independent home has higher resale value and is more preferred by home buyers. As a result, if you are preparing to market your home in a number of years, setting up solar energy system does not only provide substantial saving on electric bill, it also is a great home improvement choice.

If you would like to finance the cost of your solar energy installation, include it in your mortgage.

If you would like to reduce your electricity load, switch to energy efficient appliances. Buy electrical appliances with Energy STAR seal.

Low energy requirement means lower installation cost.

Residents of areas with greater electrical power rate can benefit most on solar energy system.

If you can’t afford the photovoltaic system, you are able to install pv hot water system that costs roughly from $2000 to $4000.

Solar energy is best for houses which are located far from the current power lines.

Lastly, you got to check out the Energy Saving Method – Solar Power that save the earth and my bill too. I didn’t know that I can make my own solar panel that only costs me less than one thousand dollar.