Why should you consider going Solar?
Why should you consider going Solar?
Here are some reasons why you should consider going solar.
- Storm Ready – 100% Power Access if paired to power storage device
- Reduce or eliminate your electricity bill
- Earn significant long-term return on investment
- Stop rising energy prices in future
- Increase property values
- 30% tax credit for qualified expenditures
Other Benefits you should consider
Solar has many other benefits beyond its environmental and financial benefits. There are many other reasons to go solar.
Going solar can help boost your local economy by creating local jobs. According to The Solar Foundation’s annual Solar Jobs Census report, more than a quarter of a million people work in the solar industry. You’re also helping to create local jobs by investing in solar.
Average Solar Panel Cost
Nevada Solar Group, a marketplace provider of solar panels, reported that in 2018, the average price for solar panels in Nevada was \$2.72 per watt. According to data from across the country, a typical U.S. system is 5 kilowatts (5000 watts). Before rebates and incentives, a 5 Kilowatt solar panel system in Las Vegas would cost $13,600. One reason to consider an array like this is a “power wall”, which can store as much as 13.500 Kilowatts. A power wall costs $7,000. Installation is included in the price. These costs include installation. There is a 30% tax rebate incentive.
What factors impact the price of solar panels?
A lot goes into the price that a solar installer will charge you. Solar installations are an individual product. The price you pay for them will depend on your particular situation and other factors such as how much electricity you use and the property. These are the main factors that will impact the price of solar panels on your property.
- System size: The larger your solar panel system is, the more expensive it will be. The average price per unit for solar drops with increasing system size.
- Location: Prices vary by state due to both local quoting trends as well as system size differences. States with a larger system size will naturally have lower average solar costs.
- Brand and quality of the panel: As with any appliance or product, solar panels can come in different qualities. This can depend on the brand.
- Type of panel: This directly affects the quality of your installation. It is usually monocrystalline, polycrystalline or thin-film. High quality equals higher prices.
- Roof characteristics: A solar panel installation costs more than just the equipment. The difficulty of installation will be charged by your solar installer. A complex roof may increase the cost of your system.
- Labor: Each solar company charges a different labor rate for their work. It is possible to choose to pay more to get a company with higher reviews and a faster installation time.
- Permitting and interconnection. While not a significant factor, the cost of permits and the interconnection fee will increase the total price of your solar installation.
Net Metering
Net energy metering is a high electricity program wherein your electric company is required to purchase excess solar energy produced by your solar panels at filled electricity rates.
When your solar energy system produces more power than your home uses, it sends the excess electricity to the grid. Your utility then pays you for it. Rooftop solar panels are a great way of saving money by using net metering. The best places to install solar are not the ones that receive the most sunlight. It’s the states with the best net-metering policies.
Nevada Solar Group offers net metering. This is an important factor in the economics of solar and its profitability. Net metering is an important benefit for homeowners who have a solar system. This will allow homeowners to receive credit on their electricity bills, as they send their solar energy back to them.
Solar Panel Sizing
Calculating how many kilowatts you will need and the best system size for your home is essential. Nevada Solar Group will give you information on your power consumption for the past 12 months. If you plan to purchase an electric car, it is important that your system can handle the greater energy demands.
Save big with solar rebates and incentives
When it comes to solar installations, the most important factors are often the long-term return of investment and savings. These numbers can be staggering. Solar panels are an affordable investment. Solar panels are one of the best investments. They offer returns comparable to traditional investments like stocks and bonds. An average American homeowner can pay off solar panels in 7 to 8, and receive a 20% return on their investment. Research shows that property values can increase by as much as 20%.
Generator vs. Solar
A home in Nevada measuring 6,000 square feet has an average monthly electric bill of $500. 500 dollars per month for a home in Nevada measuring 6,000 sq. It would need a 36 Kw BU power generator unit costing $30,000 to keep the house functional in the event of an outage. There would also be 10-years of operating expenses totaling $6,000. The generator’s cost would come to $42,448.25, which includes financing costs and operating expenses. If you finance the generator over a 10-year period, the interest rate is 4%, the cost would be $42,448.25. You would also have to spend approximately $60,000 on electricity over the same time period. This would mean that you would spend $10,244.83 annually. A 25Kw solar system can make the house completely energy-independent. Four power storage walls make it possible to be power independent in the event of an outage. $68,000 is the cost of a 25Kw system. A 25Kw system costs $68,000. Add $7,000 for four power storage walls. The total cost would be $96,000. After adding the 30% tax credit, the total cost of the solar panel system would be $67,200. If you finance the solar system with rebates over a 10-year period at a 4% interest rate, it would cost $81,644.08. The annual cost of the solar system would be $8,164.44. Going solar would lead to $2,080.90 per year savings which could be used to finance the system. This could be paid off in 8 years.
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