There are tons of different options out there when it comes to solar panel costs. On a retail level, the main reason is that there are differing numbers of solar cells in each panel. This creates significantly different price points, which means the decision can be a little difficult.

When thinking about the “cost” of going solar there are usually two questions:

– How much does a home solar panel cost?
– How much will it cost for enough solar panels to power my home?

The first question offers an easy answer. Retail prices have been coming down, and in the second half of 2010 you can get a good quality 80w-100w solar panel for $200-$349.

Even though this is less expensive than a couple of years ago, you can still do better.

After all, most people still aren’t aware that if you want to spend the time, you can easily build solar panels yourself. This can save you more than 50% alone, as each panel can be built for around $100 apiece. Check out a good DIY solar panel guide and you’ll see how easy it is to build them yourself.

In order to answer question #2, you have to consider a few different factors:

– The size of your home
– Which direction your home faces
– The amount of electricity you use
– Where you live
– What rebates and tax incentives are available

Back in early 2009, the cost of turnkey solar power installations was around $7 per watt. Thanks to huge demand, reduced silicon prices and increased solar cell efficiency, prices have gone down to the $5-$6 per watt range in late 2010.

Getting a solar contractor to provide all the components as well as installation will cost anywhere from $12,500 (small, efficient home) to as much as $40,000 (large home). The factors outlined above will all influence the price of a turnkey home solar power system.

One of the most important things you have to do here is justify your solar panel costs. It’s important because the panels alone will account for around two-thirds of the total cost of a home solar energy system.

You can cut these solar panel costs just by doing the work yourself. In fact, you can also get significant tax incentives and rebates. However, the value of the tax incentives will depend on your taxable income (cuz’ if you don’t pay any income tax, tax credits don’t mean very much). And the utility company solar rebates will depend in large measure on where you reside.

Obviously, if your home is in an area where direct sunshine is minimal, you will need more solar panels to absorb enough energy to meet your energy needs.

Historically, the biggest drawback to ‘going solar green’ is the cost of the solar panels. However, if you do pay income tax, tax breaks and rebates will play a major role in reducing your out-of-pocket costs. We all definitely want a return on our investments, and going solar is no exception. You’ll find that on average it takes about 5 to 7 years to see a 100% return on net cost.

Do a little research! Take some time to compare solar panel costs, retail, wholesale and DIY. If you’re serious about saving money every month and interested in helping the environment, there isn’t any reason you can’t start today.

Author Bio: Bud Greenlee is a long time solar power advocate and maintains the website, Easy Solar Panel Plans. Read his candid review of DIY solar panel guides. You’re invited to learn the ‘Inside Scoop’ on building and installing home solar panels. Simply sign up for the 100% Free “Solar Power 101” Mini-Course. Go Green – Save Green!

Category: Home Management
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