Panel Watt Costs:
This step will help you work out the cost of the solar panels needed to make 3045 Watts of power. At the moment the highest average cost for solar panels in the US is $4.85 per Watt.
- In our example: It will cost us at the most 3045 x 4.85 = $14,768 to install solar panels to halve our power bill. And that's before wiring, charge controllers, batteries, inverters, and electrician costs.
4 - Offset Tax Credits And Rebates:
Before we jump the gun and think it will cost us at least $14,768 for 3045 Watts of solar panel watt power, we need to take tax incentives and rebates in account.
With the new renewable energy tax credits going into effect from January 1, 2009, and state-side rebates from states such as New York, Connecticut, New Jersey or California, our solar installation costs will be much lower than expected.
- Let's use our example: If we were from California we would receive tax rebates of about 20% of the cost, and a federal tax credit of 40% on the remainder. So after rebates and credits, our solar panels would cost us:
$14,768 - $14,768 x (20%) - $14,768 x (1 - 20%) x 40% => $7,089.
Since there are many factors that go into calculating your solar panel watt costs, please only use our steps as a rough estimate. Some things were impossible for us to take into account, such as special offers by solar installation companies, where they offer you discounts on the full installation (including charge controller, inverter, battery, grid-tie electrician costs, etc).
Anyway, from what you can see it would cost us around $7,089 to buy enough solar panels to halve our power bill. We, instead, either get our solar cells at cost or source them for free, and wire up our own solar panels, which obviously saved us a lot of money. The good news is, anyone can learn to find cheap solar cells and make their own solar panel watt power.
Tim McDonald and his wife have been living off the grid since June 2008. If you want to learn to make your own diy renewable energy
and save thousands on your electricity bills, then Try Earth4Energy
For FREE, before you go out and start any renewable energy project.