Solar panel costing.xls
I have also been investigating purchasing a solar p.v. panels to free my house from the national grid. Using my electricity bill and using information on
I calculated that I could totally replace my electricity supply with 17 solar panel units each covering 8sqm. The cost is a whopping £102000 about ($204000). Ignoring interest that’s a 76 year payback period and the system only lasts 25 years.
Does any green initiative actually stack up on paper or is simply a costly gesture?
The cost of installing a photovoltaic (PV) system to power your house can vary depending on several factors, including system size, location, and available incentives. Here's a summary of the main costs involved in installing a PV system:
PV modules: The solar panels are the most significant part of the system cost. The price depends on the panel type, efficiency, and the total system size (measured in watts or kilowatts). The cost of solar panels has been declining over the years, making them more affordable for homeowners.
Inverter: The inverter is responsible for converting the direct current (DC) produced by the solar panels into alternating current (AC) for use in your home. The cost of an inverter depends on its efficiency, type (central, string, or microinverter), and capacity.
Mounting hardware and balance of system (BOS) components: This includes the racking system to mount the panels, wiring, connectors, junction boxes, grounding equipment, and other necessary components. The cost of these items depends on the system size and the specific hardware required for your installation.
Labor and installation: The cost of labor for installation can vary based on the complexity of the project, roof type, and local labor rates. Some installations may require additional work, such as roof reinforcement or electrical upgrades, which can increase labor costs.
Permits and inspections: Depending on your location, you may need to obtain permits and pay for inspections to ensure your PV system complies with local building codes and regulations. The cost of permits and inspections can vary by jurisdiction.
Battery storage (optional): If you choose to include a battery storage system for energy backup or to store excess solar energy, this will add to the overall cost of your PV system. The cost of battery storage depends on the battery type (e.g., lead-acid, lithium-ion) and capacity.
Maintenance: While PV systems generally require minimal maintenance, occasional expenses may arise, such as cleaning the panels or replacing components like the inverter or batteries over the system's lifespan.
To get a better idea of the total cost for your specific situation, you can obtain quotes from local solar installers or use online tools to estimate the cost of a PV system for your home. Keep in mind that there may be local, state, or federal incentives, such as tax credits or rebates, that can help offset the initial cost of installing a solar system.
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