Can We Squeeze the Solar Cost?
With the limited supply of fossil energy people are now starting to find a better way to create energy. Photovoltaic panels offer us a new way to create electricity from the sunbeam. The output is in the form of DC voltage and it has to be inverted to AC voltage to serve our home appliance.
To process the DC voltage into AC voltage there are some additional parts needed. Basically what parts to buy are determined by what set up you prefer to. The first option you may consider is on-grid or grid-tie system. On-grid is widely preferred by people because it is cheaper than other systems. Having on-grid means you send the solar electricity to the utility grid.
What makes on-grid system cheaper? It is because we don’t have to store the solar electricity in solar batteries so the only main parts we need to buy is solar inverter only. By eliminating the batteries we cut down the solar cost because these batteries are expensive, however this system also has a downside: During power outages you will be left alone without electricity supply.
If you need power during electricity blackout you can pick up the second option. Similar to the first option the solar electricity is also routed to the grid but a battery backup is added to the solar inverter. Note that this system is more expensive because you need to buy the solar controller, solar batteries and also solar inverter that is different from the inverter we use in the first option. They contribute a significant increase to the solar cost.
The last option is you have it off-grid. This system is normally picked up by people living in remote areas where utility lines are not available. Here you will need to purchase the solar charge controller, solar batteries and also solar inverter. Same as other options mentioned above you also need to buy other items such as wiring, terminal connections, etc. The inverter for this system is different from the other types mentioned above. You may need to backup this system with gas generator or wind turbine in case of sun outages.
Now let us see how much really they will cost you. To make a rough estimation you can think about $15K to $60K. The cost will actually depend on how far do you want to substitute your fossil powered electricity. A 100% substitution is not recommended at all because the cost will kill you.
The other factors that also contribute to the price are the quality of solar parts and installation cost. Solar inverters for example has a wide quality range and solar installation cost differs from one company to another.
If you want to reduce the cost there is a good solution offered by the US government. Installing green energy in your house will allow you to get 30% federal tax benefit plus other tax benefit given by the states. By sending the electricity to the grid you also get some credits from the utility company.
You don’t really need to have your home 100% powered by solar electricity. Start from 15% or 20% and you will see the utility bill’s difference. Anytime you are comfortable with the budget you can always upgrade the home solar system.
Many people think that we spend a one time investment only for home solar system which is paid up front, however this is not completely true. Solar panels are known to have very long lifespan, can be more than 20 years but other parts such as batteries and inverters have shorter lifespan so you will need to put them in your cost calculation as well.
The best way to determine your solar cost is by contacting some solar companies. They can give you great advice based on what information you feed them.
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