How Much Does a Solar Installation Cost in the US?

Government incentives, lesser grid energy consumption, and minimal impact on the environment - these are just some of the leading reasons why a lot of homeowners across the US are looking to get a solar panel installation.

However, what causes people to take a step back in their desire to live with partial dependence on the grid power lines are the costs of getting a solar panel installed. Simply said, solar power at the moment is not cheap. It may not be as expensive as when it was first introduced in the market but it is still not within the monetary grasps of majority of the population.

On top of that, it is disheartening to know that it might take years and years for the cash savings on electric bill consumption to match the investment made on the solar panels. And just as with anything manmade, these panels are vulnerable to damages and have a limited lifespan. At most, the expensive ones could last 25 years, but hairline cracks and damages could put all those bucks in the dump. In the US, a solar panel installation project could cost $10,000 to $20,000 on the minimum. That is not even the most expensive monocrystalline silicon solar panels yet.

And that does not even include the other implements that come with the panels to increase efficiency like solar cell batteries. And more often than not, the cost of hiring a third-party installation company comes as a separate cost from the panels. Even government tax incentives could not make it attractive enough for the average American! Cost alternatives Efforts to live in green homes as far as energy consumption is concerned are at the moment limited to solar energy.

You cannot possibly have a mini hydroelectric generator in your backyard, and it is practically impossible to build windmills for your home energy consumptions. Solar energy remains the most practical and most possible option as of yet. Fortunately enough, there are ways to somehow afford getting your own solar panel installation job done without the need for thousands of dollars on upfront payment. For one, banks now offer solar loans and another, there now are companies that offer solar leasing. If you are truly interested in going the solar energy way, you may want to explore these options and find out its availability in your region.

Cheap or Free Solar Panels

While the solar panel cost of today are at a much better rate than when it was a decade ago, and it has relatively become a cheaper commodity, solar panels are still expensive. Sure on one hand you would love to reduce your energy consumption and generally lower your bills, on top of making your own efforts in helping reduce the carbon emissions from nonrenewable energy sources, and live a greener life in general. But on the other hand, the solar panel cost an arm and a leg in most - if not all - cases and types and could hardly power your entire home unless you cover your residence with so many solar panels - which then equates to more expense.

On average, a $10,000 price tag on solar panels will be matched by your savings on your electric bill by more or less ten to fifteen years. And that is just about the time that a regular, well used solar panel reaches its maximum lifespan.

Is there a way to get cheap or free solar panels? Can you possibly get access to using this currently expensive source of supposed cheaper energy?

Cheap or Free Panels - Where are they?

In the strictest sense of the word, ‘cheap’  is not one to describe solar panels today. Less expensive, yes, but never cheap. So where do some people say they get their cheap panels?

The cheapest way to get your hands on your own solar-powered home is through solar leasing. Solar leasing, as its name implies, allows you to have your solar panels installed at home on 10-20 year leases with only a fraction of a cost of buying and installing your own. The downside, however, of solar leasing is that you are missing out on tax incentives accorded to homeowners who made the big investment of shifting to solar power simply because the panels are not yours. The incentive, which could be up to 30%, goes to the leaser instead.

Free panels, in some cases especially across the UK, are a different story however. Solar power companies give the panels out for free in exchange of getting to sell the excess/surplus energy of one home to the government for a fee through the Feed-in Tariff.

For now, cheap or free panels are nothing but a dream. Hopefully however, solar panel cost will reduce as the technology for it continues to develop.

Understanding Solar Stocks and Why Now May Be the Best Time to Invest in Them

As of late, solar stocks are fluctuating just as frequent as most girls’ waist sizes. While more and more people are looking to compare solar panels to use at home, the manufacturers of these panels are in tight competition to win customers and advance in their investment strategies.

Over the past few months, German solar companies have reported bankruptcy; others are on the verge of such. The sudden drop in the prices of the panels and the oversupply of these once extremely expensive commodities have all created the sudden drop of the solar stock prices as well as the demise of the weaker companies.

But experts in investments and stocks trading are telling investors, this may actually be the best time to buy solar stocks. Despite the obvious cycle of plummeting and rising of the solar stocks in the market, and status of these companies in the stocks exchange are highly doubted, the foreseen circumstances surrounding solar power in general are what brings on the benefits of buying the stocks today.

Many experts on renewable energy as well as business experts are foreseeing the rise of solar energy to soon become America’s cheapest energy source. While today may be all about home- and business owners looking to compare solar panel prices, soon it may be a staple in every home. And with this rise in demand for solar panels and solar energy in general, the stocks may see a more stable rise in the market.

And before it happens, before the stocks rise as soon as the demand hits an all time high in the consumer level, it is best to stock on solar stocks now.

If solar energy were to become a staple in homes and businesses as the only possible and realistic alternative for domestic and small business needs for renewable energy, there will be a steady demand and cash flow for solar power related products and not just the solar panels.

With a bright foreseeable future for this renewable energy source, it may be wise to buy these stocks while they’re still cheap because they are bound to increase in prices as soon as the demands rise.

Feed-in Tariffs (FITs) Schemes Explained

Because of the rise in need for renewable energy technologies and the vulnerability of the nonrenewable energy sources that we are using today, governments of many countries around the globe are making use of feed in tariffs - a form of incentive scheme that helps promote and reward homeowners and business owners who have made the shift to renewable energy sources like solar energy, wind energy, hydroelectricity, among others.

Feed in tariffs are called by many different names elsewhere in the world; the UK predominantly use the term “feed in tariffs” or “feed in tariffs scheme” but it is also called renewable energy payment and advanced renewable tariff in others. However way it is called, it shares generally the same concept.

What Feed in Tariffs Are

Feed in tariffs are a cash-based incentive that are afforded to households that invest in alternative sources of energy. Topping today’s options for these renewable energy sources is solar energy, with solar panels now becoming more easily accessible in the market than when it was ten or so years ago. Feed in tariffs are the governments’ and power supply companies’ way of promoting the use of these types of energy for both ecological and economical purposes.

How FITs Work

When a home installs alternative power sources, their regular grid-power consumption naturally reduces. This decrease in consumption will reflect in the smart meters and some of the subsidized energy that you do not get to use goes back to the power generator. Happy as they are for the amount of energy that has gone back to them, power companies pay you per units of electricity that you did not use.

With these feed in tariffs, not only do homeowners get to save up on the cost of their electric bill, but they get to take home something for making the choice of using alternative energy at home.

In some cases, like in the UK, homeowners can also sell their excess energy to another user and earn from it through their export tariffs. The amount that gets billed is calculated using smart meters provided for by the power companies.

Can You Really Get Solar Panels Installed for Free?

More and more households have been getting offers of free solar panels for their home. There have been promises of getting hundreds of dollars in savings from their regular electric bill, and all absolutely at zero cost for the homeowner. If you compare solar rates these days, a small regular household kit could cost well over $10,000 at least for everything including installation. Getting an offer sounds like so much of a win-win right?
Many solar power installers have been going out of their way knocking on every door to give out this irresistible offer. What would you get anyway - a free solar kit that is thousands of dollars in cost, a 25-year contract on the solar kit, after which you get to decide if you would buy the kit at its depreciated price, and at least 10% off on your grid-tied electric consumption, free installation and free regular maintenance. You don’t even have to worry about your panels getting stolen! The installers will take care of that for you. Tempting? Yes.

For any impulsive customer, this seems like the perfect plan. It’s an all-win situation and without having to compare solar plans and kits especially for those who are not huge fans of understanding which brand is better for whatever reason.

But what’s the catch? Why would any company spend tens of thousands of dollars putting up these pricey solar panels and help homeowners save on their electric bill? Are environment advocates evolving into big time corporate philanthropists and squandering away millions of cash to promote alternative energy?

Not entirely.

The free solar kits contract, while affording you some huge freebies, is equal to giving away you government subsidy for energy, aka feed-in tariff schemes of FITs (term more popular in the UK and Europe). These FITs are the government’s incentives for using alternative energy; the power companies are simply paying you back for the energy accorded but you don’t get to use - apparently, because of your more efficient energy source - that goes back to the power plants. This cash payout for the unused energy is what the solar companies get in exchange of your free solar energy kits. In some cases, the cash may - in bulk - be larger than the money you get to save from the kits and from the money you would have spent if you’d bought the kit yourself.

Before signing up for any of these free panels promo, read, understand, ask and clarify everything and compare solar offers.