Solar Prices Drop For Your Benefit

There actually are ways to save on your solar panel purchase. Furthermore, even if you don't purchase a panel system outright, there are still many methods for you get to into solar, and save yourself some money. Let's check it out.

We know you are looking to save big on your energy costs, and you want to get panels into your equation. Well first things first, and one great tactic is to have an energy audit performed across your home. When you elect to conduct an audit, an auditor will do a comprehensive investigation of your usage and areas where you can upgrade to help you determine if you would see financial profits from a solar system. After the audit is over, an expert can help you to select the right location for, size of, and which type of solar panels you need to maximize your savings.

Price Per kWh Of Solar Keeps Dropping

Due to the remarkable decrease in the price per kWh of PV panels themselves, the affordability of solar systems today versus roughly a decade ago has been widely demonstrated. In the mid-70’s, the price of a panel surpassed $100 per watt. Here we are, 30 years later, and that cost is now beneath $0.40 per watt.

The savings we experience have emerged in the solar industry as it has profited from supply side curve effects, like advancements in technology and economies of measure. The supply-side experience curve effect explains the dynamic that provokes the price of a good to decrease when the combined market volume of that good increases. So, the more available the product, the cheaper it becomes. In the case of panels, the ability and efficiency in the supply side have made it much easier for the average consumer to buy solar panels.

In coordination with improvements in solar panel tech, there is also more competition. When you have more companies working on getting supplies to customers, that competition of market will also drive down prices for the demand side of the solar market. This reasoning is why we are experiencing record low costs of panels.

Costs For Solar Considerations

When considering the potential costs of solar in your house, you may hesitate to spend your money on the most costly types of panels and mounts, but try to remember that you will save money in the long-run when you see reduced electricity bills. It could be that what you spend up front will pay for itself very quickly through those reduced monthly energy bills. Location is everything, and the amount of sunlight your solar panel system receives daily, in combination with the average rate of electricity in your state, savings as much as $20,000 could be experienced over time.

State-by-state costs for panels vary considerably. For example, today, the average savings for a solar-powered house is $7,500, where the average cost is $14,600 across the state of Washington. This state exclusive cost of solar is a distinction of price and is due to the state of Washington's low electricity price. This low price is in comparison to a lot of other states. Also notable, is that Washington gets a lot less sun than some other parts of the U.S.

Another example to base your thoughts on comes from the state of Massachusetts. Massachusetts remains to be the top-performer of solar state-by-state. The average total price for solar is just above $14,000, while the savings on a 20-year term can stretch up to $30,000. This is because of the higher the electricity price, which is higher than the country's average price. Massachusetts also know for its great solar policies. The median breakeven period on a 5kw system in this state lands in the short period of 4 years.

Its plain to see that states vary in opportunities for savings. However, what it comes to solar pricing, we have to realize that there are more ways to save. Another technique for making lasting savings come by way of selecting solar panels with quality efficiencies and track mounting can step up your game even further. Track mounting makes your system able to absorb all the potential light available, and using efficient high-quality panels will help to convert that light at it's highest efficiency.

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