How Much Are People Willing To Pay For Solar Panels

A recent study found that home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array.

How much are people willing to pay for solar panels.

How much energy does a solar panel produce. Household is 10 972 kilowatt hours kwh. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The solar leasing company services them and you receive the energy they produce while saving on your electric bill.

For the sake of example if you are getting 5 hours of direct sunlight per day in a sunny state like california you can calculate your solar panel output this way. For instance harvard and yale researchers found in 2011 that the average american was willing to pay 162 extra per year to support a bill requiring 80 percent of the nation s energy to. Photovoltaic pv solar technology has been around since the 1950s but thanks to declining solar module prices it has only been considered a financially viable. Homeowners who want to go solar with 0 money down and as little hassle as possible.

It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels. Additionally there is evidence homes with solar panels sell faster than those without. 5 hours x 290 watts an example wattage of a premium solar panel 1 450 watts hours or roughly 1 5 kilowatt hours kwh. Another study found homes with solar panels sell faster than those without.

Thus the output for each solar panel in your array would. How much money do solar panels save you on electric bills. A recent study found that solar panels are viewed as upgrades just like a renovated kitchen or a finished basement and home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array. Overall and on average americans are willing to pay an additional 16 25 per month for renewable energy.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. Just like leasing a car you pay a monthly fee and a solar leasing company puts your panels on the roof. 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. Regardless of the type of loan you secure the solar on your roof is going to add value to your home.

About one in six 17 say they would pay between 1 and 10 more while 15 are willing to pay between 11 and 30 and 14 are willing to pay between 31 and 200 more. We aren t the first ones to ask whether americans are willing to pay more for clean energy. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. For example the average annual electricity use required for a u s.