Solar power is growing rapidly as a sustainable energy source. What is the cost of solar panels? And what are the benefits, or income from solar panels? It is important to weigh the costs and benefits. And when do solar panels become profitable, or what is the payback period for solar panels?
Solar panels: costs, benefits and reimbursement
This article explains how to calculate the costs and benefits of solar panels is established. Furthermore, an estimate payback.
Cost of solar panels
The cost of solar modules consists of one-time purchase costs. Once when the system is running and is cost effective, will have in the long run to recover automatically. It is not easy to revenues, costs and payback period of solar panels to recharge and to weigh up, because several factors. There are several factors that play a role in the initial cost of solar panels. They are:
the desired yield
the type of solar panels
the life of the solar panels
the quality of the material
any rebates on the purchase price
Purchase costs for solar panels
What is the average purchase price for solar panels? The average quality plays a role in the price calculation. A basic installation for an average home costs between $3000 and $4000. The number of panels exceeds 5 or 6, depending on the type of panels. For quality you obviously pay a higher price.
The cost per Watt peak is around $3.15. Larger systems are relatively cheap: the price per watt peak is lower.
Rebates on solar panels
Rebates available on solar panel purchases can come from the manufacturer or from federal energy programs. It is best to check with your installer as to the current programs available in your area.
Revenue and earnings solar panels
The capacity of solar modules is expressed in Wp, or peak watts. This is the output from the solar poles at optimum conditions. The ideal value is obtained only in sunny locales.
payback solar panels
When calculating payback play mode, tilt and tilt direction of your ceiling a role. In addition, subsidies, licenses and renovations are also affected. Because of the complexity of the factors that the calculation of costs, benefits and payback period of solar panels, there is no simple mathematics for hands. There are several mathematical models to find on the Internet that gives an indication of the proceeds of your solar panels.
Full payback for solar panels is about 16 years, provided a constant electricity price. Upon an increase in electricity prices of 10% per year, the payback period is reduced to eight years. The faster the electricity price rise, the shorter the payback period.
– Jim Lewis