When considering viable green energy options one may wonder how much does solar power cost? This is an important question to consider. There is an initial investment that must be made when switching to this option for a cleaner energy source. There are a lot of misconceptions when it comes to the myths that are circulating concerning the initial investment that has to be made. A bit of research can debunk these myths.
It is estimated that a household uses around one kilowatt of electricity per hour. If one were to use those statistics to determine the amount of panels that will be necessary to generate enough power, it would come out to between six and eight dollars per watt of power. The average photovoltaic panel (PV for short) can generate ten watts per square foot. This basically translates to every kilowatt of power that is generated requiring one hundred square foot of panels. This is one way that the price is computed. If this were the only variable to be considered, the answer to how much does solar panel installation cost would be twenty and forty thousand dollars for a system that generates five kilowatts of power, but this is not the only factor.
There are other variables that must be taken into consideration when trying to come to the conclusive answer to a question such as how much does solar energy cost? The location of the home is a big determinant because if a home is in a region where the sun does not shine as long per day because of rain, such as in the Seattle area where the sunshine is limited to about three hours a day, then this will affect the amount of power that can be generated by solar power systems. Areas that get considerably less sunshine will need more panels installed. This will of course affect the price.
Another thing that can be factored into the investment is whether or not the electric company and the state of residence allow for net metering. This can have a great effect on the overall price of the system and the installation. In most states in the U.S. it is possible to sell back any unused power that was generated. Those who are in warmer states can really benefit from this and recoup some of the price of the initial installation. Those who live in states where the seasons vary greatly can take advantage of this program to offset the power that they use during the colder months by selling the extra power in the warmer months. This has some bearing on what the overall price will be and the answer to the question of how much does solar energy cost.
While there are a lot of variables that come into play when asking how much does solar energy cost, there is also some good news on the horizon. As more and more companies take advantage of new technologies and encounter more and more competition, prices are expected to continue to fall for the installation of an alternative energy system such as this. Lower solar prices mean affordability for even more homeowners in the near future. The best way to find out the bottom line on the price for this type of system is to contact a reputable company and speak with their specialists. They will take all of the necessary considerations to come up with a viable option for the individual house hold.