Find Out If Solar Power System Costs Are Cheaper Than You Think

At the beginning of 2009, the average home pays over $100 a month on their energy bill. The average driver also pays about $100 a month for gasoline. Energy costs such as these will continue to increase as the cost of crude oil rises. However, it doesn't need to be this way. If you had the chance wouldn't it be nice to get your energy in a more environmentally friendly, less expensive way. You may have looked at the cost of home solar power systems and though, "How could this possibly be cheaper?" Some quick calculations involving solar power system costs reveal that they are much cheaper than first meets the eye.

The Hidden Cost
Solar power system costs are not as high as they initially appear to be. if a systems costs between $20,000 to $30,000 the tax credits available could range from $7,500 to approximately $15,000 for some of these systems, similar to the tax credits available for hybrid or electric cars. Although savings may vary, a general guide is that tax credits will save you around a third of the solar power system costs. It will take a few years to see the real savings of such a system and they are built up over time. Fortunately, the cost is a one time, upfront payment.

Solar power system costs aren't billed over time. The savings will start to stack up once you have paid for the system and had it installed. Systems like this generally pay for themselves in around 7-12 years. How much energy you use and the size of your home solar power system will decide on the savings you will make. Although they cost more, larger systems will save you more eventually. Producing excess electricity can actually earn you money as you can sell it back to the energy company. A DIY solar power system can increase your savings further by completely elimination installation costs.

The environmental cost is also something that is taken into account with the solar power system costs. You need to bare in mind that by installing home solar power systems you will helping to reduce air pollution and the production of carbon dioxide. Not only will you save hundreds or thousands of dollars every year, but you'll be doing your part to protect our environment and help become energy independent. A lot of people are very scared of the dependence we have on foreign oil and other energy sources, and quite rightly so. Now is the time for everyone to do something about it.