Solar Panel Installation On The Roof Of My Home

So now the big question everyone asks, What is the payback? One thing to consider is this, it is far more cost effective to conserve than it is to generate electricity. So before you decide to dive into solar power, make sure you have done everything to conserve. In doing so not only saves electricity, but also reduces the size ,and cost of your solar array.

Conserve First Then Generate

For example, I replaced my 20 year old refrigerator with a new energy star one. Prior to replacing it, I hooked up my Kill-A-Watt Meter and measured its power consumption. I found out that it consumed an average of 3 kw per day. Which equates to 90 kw per month. My new refrigerator uses an average of 1 kw per day. This gives me a savings of 60 kw per month. I also switched over to LED lights, as well as other energy saving techniques. As a result of looking at conserving before buying solar, I cut my electric needs by almost half’ Which obviously means that the Solar PV array that I need before conserving, is also cut in half.

So now really, what is the payback? First off, my payback is probably a bit quicker than most. This is because the installer I chose let me do the mounting of the solar panels on the roof myself. He then did the electrical wiring, as well as the initial design and submitting to codes and permits.

Solar Payback

So about that payback – My 3kw solar system’s initial cost was just over $8000. With the 30% Federal tax credit, my cost basis was roughly $5600. My payback is under 8 years. An additional bonus is this, when it is time to sell, my solar panels add value to the sale of the house. Studies have shown that homebuyers are willing to pay more for a home with solar on the rooftop. One study in particular puts a dollar per watt value on it of $3 per watt. Using my 3kw system I installed, 3kw is 3000 watts. So according to this article, I have added $9,000 to the value of my house – not bad when my original cost basis is almost half of this value.

So is solar right for you? I can’t answer that question. Here is a good page for calculating the kilowatt hours solar panel produce. You can use it to estimate the size system you will need based on your KWH usage, what percentage you want to offset with solar.

I am very pleased with the results of my solar panels on my roof. I highly recommend looking into solar panels on your home to see if it will work for you.

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