Cost Of Domestic Solar Power Systems

The good news is that solar panels just keep on getting cheaper.

Cost of domestic solar power systems.

The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. Back in 2010 the average price of a 4kw solar pv system was around 20 000 which means the cost of solar power has fallen by about 70 in the past nine years. The solar system charges a battery bank which in turn is used to power a house. The tariff rate for solar panels has fallen from 41 3p kwh at the launch of the scheme in 2010 to 3 79p kwh today january 2019.

With south africa s sunny weather wendy williams director of engel völkers southern africa says solar power provides an ideal source of energy that can be converted into electricity and with eskom s erratic power supply many homeowners are exploring the solar power system option although the initial set up costs are high it can save you thousands of rands in the long term. A generator may be used as a backup to the battery system. The tax credit decreases to 26 in 2020 then to 22 in 2021 and expires december 31 2021. But four 327w sunpower panels would take up the same overall area and form a more powerful 1308w array although the sunpower panels would cost you more.

Capacity is the total amount of electricity that a solar battery can store measured in kilowatt hours kwh. You could use four 250w jinko panels taking up 6 5m 2 of roof space to make a 1000w array. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. This report considers costs tariff rates and potential savings in order to outline current expected rates of return for domestic solar panel installations and to compare them with costs and returns available since 2010.

The majority of solar panels are around 250 watts which means you d need four panels to create a 1 kilowatt peak 1kwp system eight panels to create a 2kwp system. Sustainable co za provides full system design as well as all the equipment that you need to setup a complete solar power system for your home. An 80 square metre house for example would require 2 kw of power per day and this system would cost approximately r63 000 a bigger system of 5 kw would be recommended for a 250 square metre. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

If you opt for a solar lease or power purchase agreement remember that you will not be eligible for this tax benefit since you will not own the solar energy system. Small solar energy systems are eligible for a 30 federal tax credit through 2019.