Once named “Solar City El Paso”, this city prides itself on the vast amount of sun it receives on a yearly basis. With over 250 days of sunshine, El Paso is the perfect city to install your new solar panels.

With adequate knowledge regarding solar energy and the best possible way to utilize it wisely and properly, solar panels can help us in a major way to combat the shortage of energy problems where the demands with growing technology are increasing day by day. Solar Solutions states that by using solar energy, we are not only saving power but at the same time; we are making a good impact on the environment.

Nowadays, people are aware of the benefits of solar energy, they all need to know more about the cost of installing solar panels.

Solar energy is not just about heating and lighting our homes, these days solar energy has widely been used in heating swimming pools, power cars, fans, various calculators, and other smaller electrical appliances.

Before entering the most part, let’s discuss the various components of a solar or photo-voltaic system.

1. Solar panels – These panels mainly capture the sun’s energy and convert it into electricity which can be utilized for various purposes.

2. Controller – The controller usually protects batteries by regulating the flow of electricity

3. Batteries – They usually store electricity which we may use in the future for different purposes.

4. Inverter – converts the energy that is stored in a battery to the voltage which is needed to power various standard electrical equipment.

Now, the approximate cost of solar panels is around $3 per watt, and the extra cost of installation is roughly about $5- $6 per watt. Installation costs for solar systems or PV systems include both labor and the other electrical equipment that is required to tie or fix the solar array into our existing electrical system. So, nowadays, the 5KW system costs around $20,000 and has a payback period of 20 years.

Wondering how Solar Panels work? Take a look at the video below to better understand them:

But it is expected that the cost of solar panels will be reduced because thin-film panels from various manufacturing companies are available in the market. So, it can be expected that installation and auxiliary equipment and tool costs can be reduced to around $1 per watt. If this happens, then a 5-kW system may cost around $ $10,000, and the payback period would be about ten years.

Before, purchasing a solar panel system for your home, we need to calculate certain points so that we can choose the best solar panel which can give us a cost-saving solution.

Calculate the Kilowatts Needed

First, we need to calculate the kilowatts that we need at home. We can easily get an idea regarding the kilowatt consumption by seeing our last 12 months’ electricity bills. Now, if we divide one months’ bill by thirty days, then we can get an idea regarding the per day consumption. In this way, we can get the maximum of our consumption needs, and certainly, this, in turn, will be equal to the solar power that we will require on a daily basis.

Decide what appliances we need to use by solar power

Next, we need to decide which tools are going to be used and which will not be used by solar power. Then, we need to estimate the appropriate number of solar panels and cells. After the completion of our estimate, then we can come up with the installation expenses that are the minimum. While doing all of this, we need to remember that we are going to use only basic and simple appliances.

Solar Kits or Hiring a Professional

You need to decide whether this will be a DIY project, which we don’t recommend, or if you’re going to need the services of a professional solar panel installer. If going with the first, then you need to choose those solar kits that are ready to assemble: If we go for those kits that we can assemble ourselves, then it will help us in reducing the cost of our installation process. However, making one simple mistake by doing it on your own, could end up being more expensive in the long run, this is why we recommend hiring a professional for installation.

Need to compare the prices

We may visit several websites on the internet and may go directly to the dealers and manufacturers which sell solar or PV systems. Before purchasing one, we should compare its prices with the price of other solar panels. By doing a thorough analysis, we should buy the best solar panels for our usage.

Now, taking all points into consideration, we have a better idea regarding the cost of a solar panel including its installation. Hence, depending on our individual needs and requirement, we can purchase the best solar panels that can successfully meet all our needs and simultaneously, provide us with the best economic solution for our houses.

All information on this post is the sole opinion of the website owner and not anyone or company mentioned in this post. If you’d like more information regarding anyone or company mentioned on this post, regarding solar panels, then please find their information listed below: