The True Cost of Solar Power

Solar power can save you money. What was once a fad has taken off in a big way as government scientists look for ways to break our dependence on the dwindling supply of fossil fuels. Now that you have the opportunity, can you afford to use solar power?

Solar energy will pay for itself once you have set up the system but the problem is the initial cost to the consumer to get the system going. For a business, these costs can be handled because there is more capital available. For a homeowner, it is not as simple.

First of all, how much solar energy you will need to power your home depends on your energy consumption. With solar power, many families learn how to live on less to gain the most cost savings. If you live in the city, you are still tied to the grid system. This is the electrical grid that powers homes within the city limit and outlying areas.

Some want to eliminate their energy bill altogether. That requires more solar panels than someone who wants to subsidize their energy bill with a residential solar power system. Solar kits can run you anywhere from $8,000 to over $20,000. This includes the equipment, the cost of having the site inspected and hiring someone to prepare the land for the panels if mounted in the yard or having someone mount them on your home’s roof. You will also need the services of an electrician to wire the components into your home electrical system - even if you are on a grid intertied system (uses a battery to store solar electricity until needed).

The federal government and state governments applaud those who are committed to saving energy and reducing their dependence on fossil fuels. You can look into government tax incentives and grants to defray a portion of the overall cost.

For those who are ambitious and like DIY projects, you can create your own residential solar power system. Choose a DIY kit that gives you all the information and blueprints for the system. They may even suggest where you can find the component parts for a lower cost such as eBay or your local hardware store.

The key to success with a DIY system is planning, planning and more planning. If you are not committed to the task it can get pretty grueling pretty quickly. But, it does keep you from paying such a high price upfront for the benefits of residential solar power.

Only you can decide if you can afford the cost of a residential solar power system. Think about reducing your energy consumption and other fuel costs to save money towards your new system.