Initial Cost of a Solar Energy System

The size of the solar array depends on the available sun in your area and the amount of energy that you need for your home or business. GreenLife Technologies can determine the amount of available sun at your site by evaluating the location, orientation, and shading of the solar PV array.

The size of the solar panel system also depends on your electricity needs, which can be determined by evaluating past electricity bills. If you have a new house, GreenLife Technologies can determine your probable needs by analysis and experience from other projects in the area.

The cost of a solar energy system is typically around $3/Watt, but on larger systems of 10kW and more, the price is lower.

Example Savings and Property Value Increase for a Solar Electric System:

Average monthly utility bill $153 per month
Estimated system size required 10kW
System cost $25,900 (zero down financing is available)
System cost after tax credits $18,130
Estimated first year utility bill savings $1,854
Estimated increase in property value $37,080
Return on investment 18%
Cashflow payback period 5.9 years

“Solar PV customers that invest in a 5kW solar PV system save an average of between $44 to $187 per month during the first year that they own their system.”
– Going Solar in America

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