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Cheaper Than Obvious Solar Power System Costs

At the beginning of 2009, the average home pays over $100 a month on their energy bill. The average driver also pays about $100 a month for gasoline. These energy costs will continue to rise as the price of crude oil shoots up again. However, things don't have to be this way.

Author: Floyd P. Dietz
Date: Dec 30, 2010 - 12:38:18 AM

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At the beginning of 2009, the average home pays over $100 a month on their energy bill. The average driver also pays about $100 a month for gasoline. These energy costs will continue to rise as the price of crude oil shoots up again. However, things don't have to be this way.

Wouldn't it be nice to change how you get energy, to make it cheaper and more environmentally friendly. You might look at the price tag of a solar power system and think, "How can this possibly be cheaper?" Some quick calculations involving solar power system costs reveal that they are much cheaper than first meets the eye.

The Hidden Cost

Solar power system costs are much less than what they first appear. If one particular model costs $20,000 or $30,000, tax credits might account for anywhere from $7,500 to nearly $15,000 alone for those models, just like there is a tax credit for hybrid and electric vehicles.

A good rule of thumb is that tax credits will shave off about a third of the solar power system cost, although the precise value is likely to be a little different. However, the main savings are accrued over time, and you won't see them for several years. Fortunately, the cost is all upfront.

Solar power system costs aren't billed over time. You pay for the system, have it installed, and then you start racking the savings up. These systems typically pay for themselves in anywhere from 7-12 years. Your energy consumption and size of the solar power system dictate your savings.

Larger systems cost more up front but save you more. If you produce excess electricity, you can actually sell it back to the power company to make some money back from them. A DIY solar power system can increase your savings further by completely elimination installation costs.

However, the solar power system costs also take into account the cost of fossil fuels on the environment. Consider all the Carbon dioxide and air pollution that you can prevent simply by installing a solar power system on your home.

Not only will you save hundreds or thousands of dollars every year, but you'll be doing your part to protect our environment and help become energy independent. Many people are justifiably scared about being dependent on foreign oil and other sources of energy, but now every single home owner can do something about it.

View all articles by Floyd P. Dietz

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