<p style="text-align: justify;">Looking to reduce your carbon footprint and your <a href="https://www.move.org/utility-bills-101/" target="_blank" rel="noopener">monthly electricity bill</a>? Investing in renewable energy sources like solar power can do just that.</p>
<p style="text-align: justify;">And while you may see plenty of solar company ads that claim you can receive &#8220;FREE*&#8221; solar panels, it, unfortunately, isn&#8217;t that simple.</p>
<p style="text-align: justify;">So what is the cost of solar power? And over what period of time will you get your full return on investment?</p>
<p style="text-align: justify;">This article will cover all that and more.</p>
<h2>The Cost of Solar Power</h2>
<hr />
<p style="text-align: justify;">Since 2010, the average solar installation cost has slid by half, from <a href="https://www.seia.org/solar-industry-research-data" target="_blank" rel="noopener">$40,000 to closer to $20,000</a>. Meanwhile, the cost of electricity has almost doubled in that time.</p>
<p style="text-align: justify;">So what does that mean for you? Well, your costs break down in how large your sustainable energy system needs to be.</p>
<p style="text-align: justify;">Solar energy systems are priced based on Watts. The Solar Energy Industries association detailed that in Q1 of 2021, the price was around $2.94 per watt.</p>
<p style="text-align: justify;">Most homes require a solar-powered system between 5kWh and 10kWh, leading to a cost somewhere between $14,700 and $29,400. Hence why the average falls close to $20,000.</p>
<h2 style="text-align: justify;">How to Determine My Exact Cost</h2>
<hr />
<p style="text-align: justify;">The exact costs of installing a solar panel system are relative. They&#8217;re based on your home size, your geographic location, the team you&#8217;re working with, and any fees they might have, as well as the general supply and demand for panels.</p>
<p style="text-align: justify;">That&#8217;s not to mention additional components that may be required, such as inverters, power cells, or even re-roofing materials (depending on the age and condition of your roof).</p>
<h2>Determine the Amount of Panels You Need</h2>
<hr />
<p style="text-align: justify;">Your first step is to analyze how much electricity you use on a monthly basis. This information is available on your utility bill statements. If the information isn&#8217;t there, you can contact the utility company and they will provide it.</p>
<p style="text-align: justify;">The longer you&#8217;ve been in the home the better idea you&#8217;ll have of how much electricity you spend. Next, you&#8217;ll need to evaluate how much sun coverage your home gets.</p>
<p style="text-align: justify;">A Florida beach-house is going to get more sun than a log cabin in Montana (or at least you would hope so!). This means that the beach-house would require fewer solar panels to cover your electricity needs than that log cabin.</p>
<p style="text-align: justify;">For those in less extreme environments, you&#8217;ll need to evaluate your home&#8217;s surroundings. Trees, larger buildings, or other obstructions that shade your home will lower your overall output.</p>
<p style="text-align: justify;">Professional estimates, such as those from <a href="https://blueravensolar.com/blog/price-of-solar-panels/" target="_blank" rel="noopener">Blue Raven Solar</a>, can assist you in learning more about your home&#8217;s specific solar needs.</p>
<p style="text-align: justify;">They&#8217;ll help you gauge the overall cost and how long it will take for you to get a return on your investment.</p>
<h2>Renewable Energy Rebates and Credits</h2>
<hr />
<p style="text-align: justify;">In 2020, Congress extended a <a href="https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics" target="_blank" rel="noopener">26% tax credit</a> for solar panel systems that are installed through 2022. This tax credit decreases to 22% in 2023.</p>
<p style="text-align: justify;">What this means is that would you <a href="https://newsforpublic.com/benefits-solar-panel-home/">install a solar system</a>, 26% of the approved cost can be deducted from your taxes as a form of credit. Meaning the solar power pricing for a $20,000 system is credited to you for ~$5,000.</p>
<p style="text-align: justify;">Certain state and local municipalities offer additional benefits as well.</p>
<h2 style="text-align: justify;">Invest in Renewable Energy</h2>
<hr />
<p style="text-align: justify;">The cost of solar power isn&#8217;t one that&#8217;s clear on paper. With federal credits, the monthly savings you&#8217;ll save from your utility company, and the environmental benefits, there&#8217;s no easy dollar number to estimate.</p>
<p style="text-align: justify;">Look around for different solar panel installers in your area and get quotes and info that pertain to your home.</p>
<p style="text-align: justify;">Like this info and want more on home improvement and renewable living? Check out our related blog posts.</p>
<p style="text-align: justify;">

Are you finding Websites like BuzzSumo? Here are Top 10 Best Free and Paid BuzzSumo…
Managing a construction zone is one of the most critical responsibilities in the building industry.…
Bottle-top dispensers are essential tools used in pharmaceutical labs because they allow and accurate dispensing…
Renovating your home can be both exciting and overwhelming. Whether you’re updating a single room…
Are you Finding Stream2Watch Alternatives Websites? Here are 18+ Websites like Stream2Watch to watch live…
Are you finding Einthusan Alternatives websites? Here are Top 9 Alternatives of Einthusan. Sites like…