intro
As energy prices fluctuate wildly and environmental concerns weigh on our minds, I’ve noticed a rising interest in residential solar energy systems. It’s not just about being eco – friendly anymore; it’s also seen as a savvy financial move. Homeowners are now asking the essential question, ‘Is investing in solar panels truly worth it?’
Residential solar cost and profit
The first step is understanding that solar energy systems are a significant investment, with costs influenced by various factors. It’s crucial to consider initial expenses, long-term savings, and potential increases in property value. The size of your system, the quality of components, and the installation costs all come into play when calculating the total price tag.
The potential for solar panels to reduce your energy bills hinges on how effectively they can harvest sunlight. This is where the role of your roof becomes non-negotiable. Does it have a favorable slope and orientation? This is not just technical jargon but key factors that dictate the efficiency of your energy harvest. A roof with the right angle and exposure to the sun can drastically improve a system’s output, impacting your budget and the environment in one fell swoop.
I can’t stress enough that when you’re weighing the switch to solar, the details matter. I’ll guide you through the importance of your roof’s features in the next section, ensuring that when you decide to take the plunge, you can do so with confidence and solid footing.
Let's see what the merchants have to offer
I took the example of a typical salesperson—a solar panel installer. For areas with a moderate continental climate at latitudes of 45 +/- 5 degrees, the offer is as follows:
- 12 kW of installed panels (24 panels of 500W)—13000 kWh
- 6 kW of installed panels (12 500 W panels)—annual production of 7000 kWh
If in the second case we divide the annual expected production by the power of the panels and the number of days in the year, we will get how many hours per day the solar panels work at full power.
7000 kWh / 6 kW = 1117 hours/annually
1117 / 365 days = 3.2 hours—expected average work on a daily basis.
Of course, this is greater in the summer and less in the winter.
According to the Forbes analysis, the situation is similar. They forecast an annual production of 8,000 kWh to 10,000 kWh for this 6 kW system in the United States.
If we now run the SPAC application for the New York area with a panel tilt of 30 degrees and a total of 12 First Solar panels with a power of 505W, we get the following result: 7354 kWh/year
That outcome is fairly similar to what the previous seller offered, but let’s not overlook one crucial detail.
In the calculation, I took an almost ideal 30 degrees tilt of the solar panels, facing south.
What would happen if the initial parameters were not so ideal?
Let’s now change the panel’s tilt to 38 degrees and the orientation to south-southeast 45 degrees.
Our annual production results in 6809 kWh/year.
That’s not so bad; we come to the conclusion that the trader who offers us the above offer is relatively honest.
The investment costs for a 6 kW system are substantial
Our dealer offers a turnkey 6KW system for $6700. Forbes claims that the investment with all discounts and subsidies is $8,500–$12,700.
Everything relies on the available equipment.
If we look again at the first offer and break down the prices, we get the following analysis:
Panels 12x $170 = $2040
Inventor: SUN2000-5KTL Huawei $1715
Power Meter Smart Donge $200
Flow Control Smart Meter, $200
The cabinet comes with complete protective equipment, including overvoltage, undervoltage, and frequency protection. $350
Aluminum solar panel brackets, hooks, and screws are approximately $500 for this installation.
A set of solar cables costs $1 per meter, while the connectors cost $10 and the cable entry costs $8. etc
Without the project or permit, the total comes to about $5000.
Therefore, if you decide to undertake the task yourself, you should budget for this cost. If you hire a contractor, you have to add another $1700 for his labor, projects, and permits, which is acceptable.
Permits, fees, and subsidies
They vary from country to country. In the USA, the license costs around $2,500 and more; in many European countries, this amount depends on the specific situation. However, in the USA, the subsidies are also good, reducing costs by up to 33%.
Many countries adopt different policies based on their capabilities and desires to reduce the carbon footprint by 2030.
Important warning:
Do not consider bifacial solar panels for the house’s roof.
CHECK WHAT IS HOT
Our sail checker is searching for solar components that are currently on sale.
