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3 Factors Likely to Influence the Cost of Your Solar Installation

Green Bolt

The price of a New Jersey solar system installation can vary quite a bit depending on several factors that go into setting up the solar array. Every home or office differs in their electric requirements and each with a different amount of space available for mounting solar panels on. Also, every homeowner has a different budget for purchasing the system.

Although it may seem like a daunting task to cost the installation, it is still important that you get an idea of the variables that are likely to affect the price of your set up.

The Electrical Demand

The amount of electricity that gets used every month is one area that homeowners have control over. A home with several electric appliances like computers, clothes dryers, water heater, and others, is likely to see you require a higher amount of electricity compared to a home that predominantly runs on gas or solar systems. However, you can carry out several steps to reduce your electrical demands, or even installing or modifying your landscaping to shade and cool your house.

Solar Panel and Related Costs

Another factor likely to impact the overall cost of installing a solar system in your home is the type and model of solar panels you decide to use, although this might be up to the installer and not you. There are three types of solar panels on the market:

  • Monocrystalline cells solar
  • Polycrystalline cells solar
  • Thin film solar

The solar panel mounting hardware and the amount of racking required will also impact your final price. Racking is for fastening the panels to your roof and connecting each panel to the next. Each installer has a favorite mounting system depending on the situation, local weather patterns, size of your solar array, the pitch of your roof and others. Other solar panel factors that have a direct bearing on the estimate you receive include the power inverter unit you use and labor costs.

Solar Incentives

Residential solar power financial incentives will also affect the cost of installing solar. For example, the Federal renewable energy tax credit for solar power can offset up to 30 percent of the cost of your home solar system. There are many other state, local and municipal incentives that are specially designed to bring the cost of solar power down even further. Other incentives are sales tax exemptions and tax credits.

These are all variable that play a part in the residential solar power installation equation that determine solar power cost. While some may vary by customer, other expenses are not a simple matter to compare. Due to this, always consult a solar installer to make sure you are making an informed choice and getting the best value for your money.

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