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Let us begin by saying that the answer to what it would cost to install a solar panel is highly subjective. The reason being, that there are myriad factors at play that could affect solar panel installation costs and hence an ‘umbrella’ answer on this would not be accurate. Every home/establishment has different electricity needs, the availability of space varies, and each would have their own budgets – all these are pertinent to each entity and hence the solar panel installation costs would vary accordingly. Given that each home and establishment is unique, at best we can provide you a list of factors that could affect the costs of installation.

The primary consideration would be that of space and the number of panels that can be accommodated on the space available. Installation on the rooftop is subject to the amount of sunlight the rooftop receives and the type and slant of the roof. A roof that is shaded would require a larger number of panels to generate the required amount of electricity – which in turn would raise the cost of installation. Depending on the electricity requirements of the home or establishment, the space on the roof should be adequate to support the system necessary to generate adequate electricity Rules, regulations, and restrictions could increase the cost of installation if the user is unable to gain proper clearances from the necessary authorities.

The good news is that the savings with solar power, over time, are significant. How much a user is able to save on electricity costs depends on the type of system installed and the usage of the electricity produced. Typically, a user can substitute at least 40% of their electricity requirement to solar energy. In addition, government schemes and net metering policies also affect the costs. Some states afford better rates, rebates, and policies for users of solar power and it all depends on which part of the country you require the solar panel to be installed.

Given that the ‘life’ of solar panels is roughly 25 years, a home owner would see the benefits of converting to solar energy within the first few years of the installation and continue to enjoy ‘inflation free’ energy for a long duration. Installing a solar panel on your home rooftop would significantly increase the value of a home as also its resale value.

While the cost of installation may not be standard, all home owners that install a solar panel would see significant savings in their energy costs each month. These savings add up to become a substantial amount, and the solar panels offer stability of power supply and against the ever increasing prices of energy. The best part is that the user would be contributing immensely towards a cleaner, greener environment and would be doing their bit to lower the usage of energy got from non-renewable sources.