Sizing Your Solar Panel System

The amount homeowners are eligible to receive from our utility company is based on the size of their PV system.  For example, as mentioned previously, our home’s PV system has a total of 7 kW.  At the time of installation, the utility rebate was $2.25/watt*.  This resulted in a $15,750 rebate (2.25 x 7000).

After rebates and incentives, our total cost looked like this:

2010 costs_simplified

If we were to install our 7kW system today, the cost would be significantly less.  Solar panel prices have dropped from over $2/watt in 2010 to less than $1/watt today.

As you will see in the example scenarios below using our utility company’s incentive program, Xcel SolarRewards, it is most cost-effective to install as many watts as your rooftop can support:

solar costs

SOURCES:

Source of solar panel and inverter pricing.

Source of mounting hardware pricing:  Iron Ridge Design Assistant

Source of Misc. costs – Estimated based on our project costs detailed here.  This cost will also be higher if you hire an installer.

*Note that the rebate amount has recently been reduced from $2.25/watt to $1.50/watt by our utility company to reflect the lower costs in the solar panel industry.

Advertisements

One thought on “Sizing Your Solar Panel System

  1. Pingback: Why can I build a house with a composting toilet? | Pilar Ard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s