How Much Money Do You Owe Me Today

A representative from a top solar company will be reaching out soon. Of course, this can vary considerably if you have non-standard items such as a hot-tub, or some electrical appliances running continuously. Extended computer use, how Much Money Do You Owe Me screen TVs and video games consoles can also make an impact. Your usage will increase significantly in months when you run an air conditioning unit, as well. This means that for every kW you generate, you need about 100 sq. If the sun shone 24 hours a day, you could put up 100 sq.

But, as we all know, the sun is available only during daylight hours, and the amount available per day is highly dependent on the extent of cloud cover. Also, the length of each day is dependent on the season. The averages across the USA vary from around 3 hours per day in places like Seattle, Chicago, and Pittsburgh, to 5 or 6 hours per day in states like Colorado and California, to a high of 7 hours per day in Arizona. What that means is that the size of the panel array required can vary, anywhere from 400 sq.

If your utility company allows you to have net metering — that is, they supply you with a special meter that will spin backwards when you generate more electricity than you use — your annual bill can average out at zero. Because of shorter days in the winter, you’ll likely be a net purchaser of electricity in that season and a net producer in the summer months. 75 of electricity per month could take a long time to pay for itself. 18,000 has a payback period of about 20 years.

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Note: Installation costs for PV systems include both labor and the electronics needed to tie the solar array into your existing electrical system. The entire system is what drives the cost of solar up and equipment like batteries need to be replaced over time. The good news is that the costs for solar panels are expected to continue to drop, as thin film panels from companies like First Solar, Nanosolar, and AVA Solar become available to the residential market. 10,000, and the payback period would be 10 years, even without subsidies. This makes PV solar installations much more attractive.

Of course, all this assumes that electric rates stay constant. However, they are likely to rise as fuel and other infrastructure costs increase, so payback periods may be even shorter in the future. In the meantime, expect to see more PV solar panels installed on roofs, especially in areas with favorable solar conditions or with higher-than-average electricity rates. Want to get an idea for how much you can save? Here’s a calculator you can use to find out!