For the last thirty years, it has been the dream of many homeowners to go off the grid and to supply themselves with all the electricity that they need. The idea of having solar panels installed has only been a dream but today you can turn it into a reality.
One thing that stopped people in the past from installing panels is the cost. Like most forms of technology, panels were extremely expensive when they first came out and not many homeowners could justify or even afford installing them. Panels were left to universities, research labs, businesses and the very rich.
As with all forms of technology, prices start to decrease over time but solar panels are still quite expensive. The average price to install solar panels is between $25,000 and $35,000. This is the cost of a pretty nice car and even someone’s salary. Before you run for the hills, realize that there are several federal and state programs that provide a subsidy and even grants for people who install panels. In many cases, you will not need to pay for the full cost of having them installed on your home. One thing that you should do is find out if your state has such a program.
One thing that really helps solar panels pay for themselves is that you can sell electricity back to the power company. For many panel owners, they have a surplus of electricity and this surplus can be sold back. Doing this will help you recoup the cost of having them installed much faster than the savings you have from no longer needing to pay the power company. You basically get a two for one deal because your panels are providing your with electricity and you are selling electricity to the power company.
One thing that you should do is to talk to a panel company directly. Ask them what programs are available in your state, have them calculate the cost and figure out how many panels you will need for your home. Let them do the leg work and then decide if you want to install panels. Also, find out about electricity buy back programs that were mentioned above and figure out how long it will take you to break even on your panel cost. Panels are a great way to help the environment, to become independent from the grid and even save money but it is a business decision that you need the proper data to make an informed decision.