Energy bills are higher than they’ve ever been. This has persuaded more homeowners to switch to solar power. But just how much of a good deal is solar energy compared to regular mains energy? What about the costs of installation and maintenance - does it still work out cheaper to go solar? This post takes a look into the costs and savings of going solar.
How much energy can you save from going solar?
Using solar panels to harvest energy can reduce the amount of mains electricity you consume. This can ultimately result in lower energy bills - but by how much?
It depends largely on how much electricity you consume and what types of panels you install. The average American household uses about 4,500 kw per year. The average 1kw solar system produces about 850 kw per year. Using this basic system, you could reduce your energy bills by just under 20%.
A more elaborate 5kw system can produce 4,500 kw per year. This is likely to cover the average American household’s entire electricity consumption - so much so that you may be able to go off-grid and never pay an energy bill again.
How much do solar panels cost to install?
A solar panel system can cost as little as $10,000 to install or as much as $60,000. It depends on how many panels and the types of panels that you choose. If you want to completely cover all your electrical needs, expect to pay closer to the high end price. If you’re installing a basic Ikw system, the price should be much lower.
You should also consider whether it’s worth hiring a level 2 service provider to install a solar meter. This could allow you to monitor your electricity usage to see exactly what you’re getting out of your panels.
How much do solar panels cost to maintain?
Solar panels are designed to be low maintenance. While they can occasionally need cleaning and repairs, you can expect to pay much less than you would for boiler or furnace maintenance.
A solar panel service typically costs between $150 and $350 and may only be needed every couple years. If your solar provider offers a warranty, you may even find that cleaning and repairs are covered, resulting in no additional maintenance costs for the first few years.
How long does it take to recoup installation costs?
Solar panels are an investment. On average, it can take about 15 years to fully recoup costs. If you expect to live in the same property for many years to come, it could be worth paying for solar panels.
Can solar panels add value to your home?
Adding solar panels can increase a property’s value by 4.1%. This means that even if you do decide to sell your home, you could make back the costs in appreciated value - providing that your solar panels are well maintained.
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A travel, beauty and lifestyle blog with the occasional afternoon tea by Angelina Belle
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