The amount of electricity your solar panels produce depends on the climate and peak sunlight in your area, the relative efficiency of the photovoltaic (PV) technology of your panels. More efficient panels may be little more expensive.
Energy produced / year = System’s kW X Sunlight hours/year X System efficiency %
To calculate the capacity of the solar power system you need, first find out how much electricity your household uses. Pull out your last electric bill and see how much kWh you use.
Let’s say that this number is 880 kWh per month. Now divide your average monthly usage by 30 to get your average daily kWh usage. In this case, it would be about 29.33kWh per day.
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Solar Power System Savings depend on several factors, including your electricity usage, how high your electric rates are, how much sunshine you get, and financial incentives.
The following state by state table shows average electricity consumption for a house, average retail rates, utility bill, solar installation rate and sun hours.
However, it is important to keep in mind that these figures are just an estimate. Actual value may be different. Continue Reading →
Curious to know payback time for your solar panel technology? In other words, how long does it take for incoming returns to cover costs? The solar panel payback period depends on many factors, including the cost of the solar system you need for your home, federal and state tax incentives available, cost of retail electricity in your area and the amount of sunshine available on your rooftop.
Payback in Years = Net Solar System Cost/Annual Utility Savings from Solar.
Here are some things to Consider Before Installing Solar Panels.
Here are some easy Ways to Lower Your Electric Bill by up to 40 percent.
Pay close attention to your home door and window frames, Attic entrances, Basement rim joints, Behind knee walls,Air ducts,Outlets and switches, Plumbing and utility access, Dropped ceilings for leaks. You may be losing money year round on air leaks. By correcting this leak, home can save homeowners anywhere from 5 to 30 percent per year in energy costs.The solar tax credit allows you to claim a credit of 30% of the cost of installing a solar energy system located in the United States. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. This applies to both residential and commercial system.
The Congress passed a spending bill in late December 2015. Here are the details of the maximum allowable tax credit.
