The cost of solar panels can vary greatly depending on the wattage, size and ease of use.
A residential 1000 watt system can cost anywhere in between $10,000 and $15,000.
Solar Panels prices are based on the amount of watts they produce, which can be $4 to $7 per watt.
A 100 watt panel that you might want to install in your roof or backyard can cost $400 to $700.
There are also some guides that teach you how to build simple panels yourself for around $2 per watt.
There are a few factors that would contribute to how much you would need to spend on solar panels to cover your energy needs.
First you would have to to consider how much power you would like to supplement with the panels.
Would you like to become free and clear of the energy grid or perhaps supplement half of your power.
You would need to determine how much peak wattage that your household uses and then plan accordingly.
Energy efficient appliances will help keep your peak levels down as well as conservation.
A little known fact is that even if an appliance is off, it still drains a small amount of power when its plugged in.
The systems in your home that require the most wattage are air conditioning, heating and water heating.
This can attribute on average to 75% of cost of energy bills.
If your current water heater or heating system runs on natural gas, it would be a good idea to install a electric based system to take advantage of the solar power generation system.
Taking a home improvement loan out may be a good strategy.
The price you pay for a solar generation system will add that value to your home.
You can further reduce the price by taking advantage of the tax incentives and rebates that most states offer by as much as 50%.
With regular maintenance solar panels are expected to last 50+ years.
As solar technology advances, panel prices will go down and so will maintenance fees as the field gains more experience.
A 1000 watt system is likely to generate $10,000 in its lifetime in today's currency.
If rates increase, which they will, you can expect to make back that initial investment, adding value to your home free of cost.