It is tricky to arrive at a precise cost for the service of setting up solar panels. This is because there are numerous factors at play in determining the rate of solar module installation. That means those factors should be considered to arrive at even a ballpark figure or estimate. Read on to discover which those factors are.
What Determines Solar Module Installation Costs?
Your House’s Average Energy Consumption And Utility Costs
The energy usage will affect the cost because it will dictate the solar panel count for you. That means you should roughly calculate the level of electricity that you use at home, and then have the modules installed accordingly. The average American residence uses around 900 kWh each month in electricity, which amounts to around 11,000 kilowatt-hours a year.
The Direct Sunlight Exposure And The Solar Module Count
A house having a decent level of sunshine and an average size may set up a 6-kilowatt solar module system to aid in reducing utility bills. The bigger your solar power system, the lower will be its cost for each watt. The number of panels you require will depend on the availability of sunlight at the specific spot in which these will be set up. On the other hand, that solar panel count will depend on a number of factors, including your energy requirement.
The Other Factors
You would like to factor in some more things to the total cost of your solar system for the most precise price estimate. Some of those additional factors are as follows.
- Labor: Solar installation labor costs may vary by area as well as how much the service providers charge there on average.
- Solar Panel Mounts: The money to be spent on the racks for your house’s solar modules will also affect the overall cost.
- Solar Inverters: It is essential to set up the inverter to turn direct current power coming from the modules into the AC (alternating current) useable for your residential requirements.
- Other Factors: There may be local permit costs, inspection fees, plus taxes on your solar modules.
Solar panel rates are coming down, so the above-mentioned soft costs are constituting the majority of the dollar amount that you will pay for the residential solar panel installation. Fortunately, with more individuals adopting solar energy, the soft costs are becoming lesser as compared to the past. This price trend is perhaps here to stay.