Solar Panels - Green Power » cost of solar panels

Most Americans Overestimate the Cost of Solar Panels

Stephanie — Sun, 29 Apr 2012 23:38:36 +0000

With rising utility costs and environmental concerns in the news frequently, homeowners are increasingly considering a switch to solar power. Yet, the vast majority of Americans overestimate the cost of solar panels, resulting in a failure to even investigate the possibility of making such an investment.

Are you overestimating the cost of solar panels?

According to a nationwide poll commissioned by SunRun (conducted online by Harris Interactive in February 2012), 97% of Americans overestimate the cost of solar panels. On the other hand, 80% of those who do not have solar panels stated that they would make the switch if cost was not a factor.

For about 40 percent of those surveyed, it was found that 4 out of 10 adults think that solar system installations cost $20,000 or more. Just 3 percent were found to truly understand the cost of setting up such systems which is about $1,000 upfront. For 97 percent of the population, solar energy, while no doubt beneficial, is too expensive to consider.

As we have posted several times on this blog, homeowners can go solar with no money down through programs like those offered by Sunrun. A solar panel lease or a power purchase agreement can allow customers to enjoy the benefits of cheap solar energy without the commitment of ownership. A fixed monthly rate is charged, usually for the life of the contract (15-20 years).

The idea that solar panels are too expensive stops most people from even obtaining an estimate or additional information about the various options for financing solar panels.

“The widespread myth that solar is too expensive is a remnant from the time when buying costly panels for tens of thousands of dollars was the only option,” said Sunrun President and co-Founder Lynn Jurich. “Fortunately that era is over. Misinformation is the root of the problem, and this data can help increasing numbers of homeowners get educated and opt into solar.”

Yet with the growth of solar power service options, like those offered by SunRun, homeowners can immediately begin saving money the day after installation. Ownership, maintenance and insurance remain with the solar company, while the property owner begins enjoying clean, reliable, consistently priced solar power right away.

Are you overestimating the cost of solar panels? Is that holding you back?

Oregonians Should Resolve to Go Solar in 2012

Stephanie — Mon, 02 Jan 2012 23:32:21 +0000

Oregon solar panels

Here in my home state of Oregon, the number of home solar power systems have tripled in the past 3 years. In fact, more than 2/3 of all existing solar installations in Oregon have taken place since 2008. If you haven’t already done so, isn’t it time to resolve to go solar in 2012?

The massive growth in the number of operating solar panels in Oregon is due in large part to lowering solar prices, rising energy costs and generous incentives from the Energy Trust of Oregon which, in addition to state and federal tax credits, can lower the cost of residential solar power systems by 80%!

If you resolve to go solar in 2012, what should you consider?

1. Does your property have ample sunlight exposure?

2. What are your monthly and annual electricity costs?

3. What tax credits and incentives are you eligible for?

4. Does your utility offer net metering for grid-tied solar panel systems?

5. Are you interested in solar electricity, solar hot water, or both?

6. Do you wish to purchase or lease solar panels?

Even if you are not eligible for certain solar incentives, many people find that government tax credits can save them thousands of dollars in the cost of solar panels, in addition to significantly reduced (if not eliminated) utility bills. Not to mention the fact that utility rates rise each year, while the price of solar electricity stays the same -FREE!

The average cost of solar panels for a residential Oregonian home is $16,000-20,000 before incentives. Such a solar panel system will cover about 300 square feet of rooftop space and generate 25% or more of a property’s electricity needs, depending on energy efficiency measures.

Oregonians can find out more about solar power options for their home or business by contacting the Energy Trust at 866-368-7878 or visiting its website: www.energytrust.org.

How to Lower the Cost of Solar Panels

Stephanie — Sun, 18 Oct 2009 00:15:48 +0000

How to Lower the Cost of Solar Panels

You want to install solar panels on your home or business, but you are worried about expense. Generally speaking, the upfront cost of solar power can be daunting. Yet there are a number of ways to lower the cost of solar panels.

Oh sure, the basic advice for consumers applies: shop around, compare prices, ask the Better Business Bureau, read reviews and consumer reports. But there are additional ways to reduce your solar panels’ cost. And just think – once you pay for and install solar panels, your electricity is virtually cost free into the future. Not to mention the fact that converting to renewable energy will increase the value of your property by $20 for every $1 saved in utility bills annually.

So here’s how to lower the cost of solar panels!

Solar panel professionals can help you determine how to lower the cost

1. Determine the amount of electricity you currently use and then estimate the size of solar panel system you’ll need. If you can reduce your energy consumption through use of LED or compact florescent bulbs, unplugging appliances, shutting down computers, etc., you may not need as many panels as you originally estimate.

2. Take advantage of generous federal and state tax incentives and rebates. Combined, these programs may help you save up to 80% of the retail cost of panels. A qualified solar panel installer or salesperson should be able to walk you through all applicable programs, depending on your location.

3. Determine if your local municipality is offering any type of solar program. For example, earlier this year, residents of Palm Desert, California stood in line to apply for the City’s Solar Energy Loan Program. Solar loans financed by the City allow residents within the district to pay back the loans through an increase in property taxes over time.

4. Ask for a group discount. Pull your neighbors together and use the resources of organizations like One Block Off the Grid. This website offers organizational tools for you and your neighbors to obtain solar energy group discounts, and provides lots of information to help you research providers, compare costs and read reviews.

5. Consider do-it-yourself. Solar Panel kits are often less expensive than buying each individual component. If you do your own installation, you could save even more (tip: many retailers will install for free, however). For the extreme home-improvement person, there are even videos that claim you can build your own solar panels in a single weekend for less than $200.

If you have accomplished this feat, then by all means, share your story in the comments below!

6. Pay over time. There are so many ways you can finance solar panels, we discussed the various options in two separate posts. From leasing the panels, to entering a purchase power agreement (you pay your utility bill to the owner of the panels), spreading the cost out over a number of months or years can help reduce the hit some people take when they install solar panels.

Don’t allow yourself to be intimidated by the sticker price of solar panels. Using one or several of these tips, you can lower the cost to a much more manageable level!

Solar Power Incentives in Oregon

Stephanie — Fri, 25 Sep 2009 03:33:25 +0000

Solar power incentives in Oregon

Welcome to the first post in a series! We are going to go through the states, one by one, both here and at solarpowerpanels.ws, to explain the solar power incentives available across the U.S.

If you did not already know, solar panels are significantly more affordable these days, thanks to a number of factors. First, the price for PV panels has dropped, even while their efficiency has increased. Second, the federal government offers tax rebates and other programs to help you make the investment in solar power. Finally, each state in the nation also includes their own solar power incentives. In the end, you can save up to 80% off of retail for a solar panel system for your home.

We’re starting with Oregon for a couple of reasons. First, its my home state, and I am very familiar with the programs offered in “the Beaver State.” Second, Oregon is a national leader with respect to solar energy.

Solar panels in Oregon can be quite affordable

So, we know you want to find out about the solar power incentives here in Oregon! After all, anything that affects the cost of solar panels is worth discussing.

Oregon’s leadership with respect to energy is unprecedented and unequaled. The state boasts an aggressive carbon reduction goal, a new Renewable Energy Standard, and has one of the most progressive commercial solar incentive programs in the country.

One of the most notable developments is that the Oregon legislature passed the Renewable Energy Act (SB 838) in 2007, which requires major utilities to generate at least 25% of their energy from renewable sources by 2025. Of this percentage, solar can comprise a large portion. Solar is more abundant than wind and even hydroelectric here, according to the University of Oregon Solar Energy Center.

Let’s review the most significant solar power incentives in Oregon:

The Oregon Business Energy Tax Credit (BETC) covers up to 50% of eligible solar system cost. The BETC (or “betsy” as it is referred to) is taken over a five year period; your company’s financial experts can work with REC Solar to determine how this is realized.
The US government currently offers a 30% tax credit after the first year for either commercial or residential solar systems, making solar an even smarter financial investment.
The Energy Trust offers cash incentives for eligible commercial systems. Two incentive categories – one for for-profit commercial facilities and one for non-profit businesses are offered.

But wait… there’s more. We’d like to review a list of the solar power incentives in Oregon, with credit to the DSIRE (database of State incentives for Renewables and Efficiency):

Corporate Tax Credit

Business Energy Tax Credit

Green Building Incentive

Ashland – Green Building Incentive

Industry Recruitment/Support

Tax Credit for Renewable Energy Equipment Manufacturers

Personal Tax Credit

Residential Energy Tax Credit

Private Grant Program

BEF – Solar 4R Schools

Production Incentive

Property Tax Exemption

Renewable Energy Systems Exemption

Property Tax Financing Authorization

Local Option – Local Improvement Districts

State Grant Program

Energy Trust – Open Solicitation Program

State Loan Program

State Rebate Program

Utility Grant Program

Utility Loan Program

Utility Rebate Program

As you can see, the solar tax incentives in Oregon are plentiful, as well as generous! Be sure to check back for more reviews, state by state, of the rebates and more than can help you convert to solar power.

And be sure to share your own experiences in the comments below!

How Much do Solar Panels Cost?

Stephanie — Fri, 13 Feb 2009 14:24:57 +0000

How much do solar panels really cost?

I often get the question: how much do solar panels cost? On the surface, it seems like a pretty straightforward question, with an answer that is easily attainable. However, the concept of “cost” includes much more than the sticker price of a few solar panels. When considering any alternative energy project, you need to consider the materials cost, the installation cost, maintenance cost, and energy savings. You should also think about the added value to your home or building.

In short, there is no direct, simple answer.

Turning first to materials cost, plan on an investment of about $6-9 per watt of solar energy (the higher end, if you are paying for installation). The size of your house is largely irrelevant, but you’ll need to look at your recent electric bills and decide how much energy you use in a given month (on average) and how much direct sunlight you get. A rough range for upfront costs, including installation, for solar panels, inverter box, wiring, etc., is approximately $30-40,000 for a single family house, if you are looking to entire replace grid-based electricity with solar energy. Your particular needs may range higher or lower. You could also experiment with a do-it-yourself solar panel system, which is explored in another post. Be sure to shop around to get the best bids for a solar panel system, if you are buying from a retailer.

The initial cost does not take into consideration any tax rebates or other incentives, which can save you up to 80% of the overall cost. Even with an 80% discount, many people might still believe that spending $5000-10,000 on solar panels is too rich for their blood. So let’s turn now to maintenance cost and energy savings. Taking these into consideration, along with the increased value of a building with solar panels vs. one without, your investment could be recouped in about 5-8 years. Stay in your house longer than that, and you’re paying yourself:

Considering solar panels' cost, they pay for themselves pretty quickly

Buy installing solar panels, you guard against energy rate increases in years ahead. You also have the security of an energy source during times that the grid is down. When you consider that your savings in electricity bills will pay for your system in less than 10 years, you’ll recoup your investment about 3 times over during the solar panels’ lifetime.

The added value to your home as a result of installing solar panels is fairly easy to calculate, using an appraisal tool that has been reliable for the past 30 years. The Appraisal Journal states that, in the United States, value rises about $20 for every $1 decrease in energy costs. Thus, if your utility bills run you $500 a year (and you save that much), your home is increased in value by about $10,000. All of a sudden, the question of how much do solar panels cost becomes a lot less daunting.

Of course, for those that are interested in more than just saving energy, you can hardly put a price on the positive feelings associated with environmental stewardship. Doing your part to reduce your carbon footprint is a benefit that you can pass onto the next generation – with or without your home.

So next time you find yourself wondering how much solar panels cost, be sure to take into account the number of positive benefits that go beyond the price tag. You’ll be seeing the light soon!

The Real Cost of Solar Panels

Stephanie — Tue, 18 Nov 2008 14:00:07 +0000

Installing solar panels

Are you like many people when it comes to solar power – you want to do the right thing, but are afraid of the high cost of solar panels? You are not alone. Count me in!

Fortunately, the cost of solar panels is going down, while their reliability and efficiency is increasing. Add the fact of government tax incentives, and the savings in energy costs over the life of the panels, and you’ve got yourself a real deal! Rebates may also be available to lower the cost of solar panels to you.

Deals on solar panels can be found on many Internet sites, including ecobusinesslinks.com, wholesalesolar.com, and Solartron Technologies. If you are wary of the cost of a full solar panel set, you may want to consider a mini solar panel set that you can purchase for a DIY home improvement project. Instead of spending thousands of dollars, you can install mini sets for a few hundred dollars. My husband and I have been seriously comparing the cost of these systems, considering the fact that we plan to be in our house for years to come.

I found this fantastic video on YouTube in which a real homeowner describes the actual cost of solar panels installation at his home:

Would you be willing to bear the cost of solar panels in order to reduce your carbon footprint? If not, what would it take? What is the price you would put on a clean, green environment? Let me know in the comment section below!