How Do You Make Affordable Solar Power?

Posted on 04. Feb, 2010 by Guest in Alternative energy, Energy Efficiency, Environment

Many years ago when solar power was introduced onto the home market, the costs for equipment were so high that there was no way for it to compete with simply hooking up to the local electric company. With all the advances in technology and the demand for solar power rising, today’s prices have lowered, and the government also offers incentives that help to offset the expense of installing your own solar power. Solar power is now becoming affordable.

People who installed home solar power systems early in the game wanted to take care of the environment. They didn’t mind paying more because their goal was to use an energy that was not based on fossil fuels. Other people often chose solar power in areas where utility companies could not easily supply power.

Lowered Equipment Costs

In the last ten years the costs for solar panels has been dropped by half. The panels are now smaller and more efficient, making installations smaller and more attractive. Amazing advances like flat panels that are flexible are now on the market. They can be adhered directly onto metal roofs with adhesive. This eliminates the needs for bulky frames to hold the panels and fasteners going through the roof where they could potentially cause leaks. Currently, products are being tested that will replace traditional roofing materials. They incorporate solar cells in the building materials themselves. This will make affordable solar power even more available, since the panels will be a part of your roof itself.

Incentives, rebates and tax deductions

Many federal, state and even local governments are offering incentives or deductions when people install solar power in their homes. This helps make solar energy even more affordable. Incentives may come in the form of tax deductions or direct rebates that cover the cost of the equipment and installation. Any maintenance or upgrades to the system would also be eligible for further incentives.

In some locations, government also pays based on the amount of power you are able to generate. This money is in addition to any that you may be paid by the local utility company for power that you generate. While some people may be unfamiliar with the idea of a utility company paying someone for power, it is less expensive for them to buy excess power from customers who have alternative energy systems than to build their own. Utility companies are mandated to get a certain percentage of their power from alternative energy sources. Some utility companies will install a separate meter for monitoring the energy they are purchasing from you, or they will put in a special meter that can run backwards when you are generating more power than you use.
How Much Does it Cost?

Based on current costs and incentives, installing a complete affordable solar power systems will cost between twenty and forty thousand dollars depending on the size of your home and where you live. You can expect around ten percent return on the money you spent, which is a better deal than you get from many investments today. Once the system is all paid for, you’ll still be able to make money from your system as well as never paying another electric bill again.

Article Source: http://www.affsphere.com/Environment/Solar-Energy/How-Do-You-Make-Affordable-Solar-Power-2.html

Tags: affordable solar power, home solar power systems, Solar Power