Is installing residential solar power invertor in your home a smart
long-term investment, or a money pit? If it really will pay for itself, how
long will that take? What will be the return on your investment?
This question is hard to answer because there are so many
different factors to consider, and no two people's situation are alike. The
number of residential solar panels, how much power your house uses, the cost of
electricity, geographic location, and even time of year can all affect your
return on investment. You'll have to do the calculations yourself for your
individual situation, and this article will explain how.
Step One: Cost of Residential Solar Panels
First, get a quote on how many your panels will cost
(including installation). If you plan to build your own panels, this can be a
bit harder to calculate. However, it's safer to overestimate the costs to build
the panels than to under estimate.
For example, let's say you pay $3000 for a solar charge controller
inverter power system, however, with a complete solar power system
blueprint, such as from Earth4Energy, they've proven it's possible to build
your own cheap solar panels for less than $200. This is how much money the
panels will have to save you before you break even. Money you save after that
point is pure profit, a return on your investment.
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