House and Home Design

Solar Power System Costs – Cheaper Than You Think

Posted on May 14, 2009 ·Tagged Carbon dioxide, Electric vehicle, Energy development, Renewable, Solar energy, Solar Power System Costs.

At the start on 2009, the average household spends over $100 per month on their energy costs. The average driver also pays about $100 a month for gasoline. Rises in crude oil will continue to push the price of these energy costs up even further. But, things don’t have to be like this. Wouldn’t it be nice to change how you get energy, to make it cheaper and more environmentally friendly. You might look at the price tag of a solar power system and think, “How can this possibly be cheaper?” Surprisingly, solar power system costs are not as expensive as first thought which is what you will discover when you have a look at the figures involved.

The Hidden Cost
Although they appear to be expensive, solar power system costs are actually not. If one particular model costs $20,000 or $30,000, tax credits might account for anywhere from $7,500 to nearly $15,000 alone for those models, just like there is a tax credit for hybrid and electric vehicles. Although savings may vary, a general guide is that tax credits will save you around a third of the solar power system costs. It will take a few years to see the real savings of such a system and they are built up over time. Fortunately, the cost is all upfront.

Solar power systems costs are a one-time hit. You pay for the system, have it set-up then you start accumulating the savings over time. Systems like this generally pay for themselves in around 7-12 years. Your energy consumption and size of the solar power system dictate your savings. The bigger the system, the bigger the savings. Producing excess electricity can actually earn you money as you can sell it back to the energy company. If you install the solar power system yourself you would make even further savings as there would be no installation costs.

The environmental cost is also something that is taken into account with the solar power system costs. Just think about all the air pollution and carbon dioxide production you can prevent by installing home solar power systems. Not only will you save hundreds or thousands of dollars every year, but you’ll be doing your part to protect our environment and help become energy independent. A lot of people are very scared of the dependence we have on foreign oil and other energy sources, and quite rightly so.  Now is the time for everyone to do something about it.

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