Do You Really Save Money With Solar Panels
Yes, solar panels help you save money.
A solar panel in your home helps the environment by reducing greenhouse emissions. The system also allows you to keep more money in the bank monthly.
You save by using less utility electricity, which comes out clearly once you cut enough from your electricity bills to recoup the cost of installing a solar panel system. Plus, youll get more money should you decide to sell your home.
How Much Will Solar Panels Cost To Install On Your Specific Home In 2021
The cost to install solar panels on your specific home in December 2021 will vary depending on your location, your energy usage, the brands of equipment chosen, and whether it is a DIY installation or a job done by a professional solar company.
Since more than 95% of homeowners choose to go with a reputable local solar company, our solar calculator below shows estimates for professionally-installed systems in your area.
Find out how much a solar system would cost for your specific home
*Based on 350-watt panels
Solar Photovoltaic Installer Training
Some PV installers learn their trade on the job by working with experienced installers. On-the-job training usually lasts between 1 month and 1 year. During training, PV installers learn about safety, tools, and PV system installation techniques.
Electrician and roofing apprentices and journey workers may complete photovoltaic-specific training modules through apprenticeships.
Solar PV system manufacturers may also provide training on specific products. Such training usually includes a system overview and proper installation techniques for the manufacturer’s products.
Military veterans may benefit from the Solar Ready Vets program, which is a joint effort of the U.S Departments of Defense and Energy to connect veterans with training and jobs in the solar industry.
Read Also: How To Find A Reputable Solar Company
What Is The Career Path For A Solar Installer
An installer of solar photovoltaic systems can enter this field in any one of the following ways. Students with high school diplomas typically receive yearlong on-the-job training, rather than earning a high school diploma directly afterward. Some candidates also complete training in technical schools or community colleges.
How Does Experience And Age Affect Your Pay
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Solar Energy Installation Manager salaries by experience level and this is what we found.
A Solar Energy Installation Manager with less than two years of experience makes approximately 257,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 364,000 NGN per month, 42% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 479,000 NGN per month, 31% more than someone with two to five years of experience.
Additionally, Solar Energy Installation Manager whose expertise span anywhere between ten and fifteen years get a salary equivalent to 588,000 NGN per month, 23% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 626,000 NGN per month, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 685,000 NGN per month, 10% more than people with fifteen to twenty years of experience.
Don’t Miss: Do Solar Pool Covers Heat The Water
How Much Money Do Solar Panel Companies Make
Do you want to know how much money solar industries make yearly? If YES, here are 8 factors that determine the income & profit margin on a solar panel. The primary job of a solar panel business is to conduct on-site surveys of potential installations, create a solar plan for the location, work with the owner on financing and install the units.
After the installation, maintenance positions within the company offer support for the new owners, repairing and maintaining panels to ensure greatest productivity and return on the investment. With the growing awareness on the implication of fossil fuels and the greater benefits of green energy, solar energy and other renewable means of power generation are beginning to gather enormous momentum.
Table of Content
How Much Does It Cost to Start a Solar Business?
For a solar panel business to succeed and generate substantial income, it requires a structured staff with skills in construction, electrical, and basic understanding of science and solar energy. Starting this business, especially in the United States is not as easy as it might seem, especially since it requires a significant investment in order to obtain the first shipment of panels.
An entrepreneur looking at franchise opportunities would require a minimum payment of around $100,000 to $350,000. Without a franchise, the investment might rise to $500,000, to enable the business to initially market, hire a crew, and perform installations.
Small Solar Battery Storage System Units
Smaller solar batteries cost somewhere between $200 and $900.
Keep in mind that you can also stack your solar batteries, creating a circuit that connects and makes one larger unit. As such, you can customize the size and energy produced more specifically, helping to ensure that you stay within budget. This makes it more ideal for those who want larger unit systems without the costs.
In other words, depending on the number of kilowatts per hour that your home consumes, you might be able to get by with fewer battery packs to generate your household. On the other hand, if you want a partial backup for essential appliances, stacking smaller batteries that store fewer watts may also suffice.
Recommended Reading: How Does Going Solar Work
Can I Add A Solar Battery Storage System To An Existing Solar System
If you already have a solar battery system installed, or if you have solar panels or solar shingles and want to add a battery system, most batteries are compatible with solar systems. Avoid combining different battery types, and keep in mind that new batteries might need an inverter, or youll need to install additional solar panels to generate electricity.
How Solar Energy Works
This section will cover exactly how sunlight turns into cash in your pocket. We cover how solar works in more detail, but in general, it is as follows:
1. Photovoltaic input – Light shines on the solar panels which generate DC electricity
2. Inversion DC electricity passes through an inverter which outputs AC electricity. Most Alberta homes and businesses use AC electricity so we must convert the voltage into a usable form.
3. Distribution The solar power system is tied into the breaker panel where the solar energy can be distributed/used throughout the home. You will use any generated solar energy first, and any additional energy that cant be supplied by the solar panels will be imported from the grid as usual .
4. Generate Credit – If you generate more solar energy than you need, you will export your energy to your retailer who will credit you on your monthly bill. By generating solar energy, you no longer import as much energy. By not importing energy, not only do you reduce your energy charge, but you also reduce your transmission and distribution fees too!
If you get a power bill every month, you are interconnected to the grid . By grid we mean the Alberta electricity infrastructure power lines running from you home to various substations and power plants that give you energy. Here is the best part:
Grid-tied solar power installations do not need batteries!
Read Also: Is Installing Solar Panels Hard
Are Solar Panels Worth The Investment
Thanks to the lower-than-ever cost of solar panels and various solar incentives, solar panels are a cost-effective investment for the majority of homeowners that will provide an excellent return on investment.
Not only do they lower your energy bills, but you also get to power your home with clean renewable energy and reduce your dependence on your local utility company.
Even though spending up to $20,000 is daunting, federal incentives eliminate 26% of solar system costs after 1 year. There are also various ways to finance a solar system – from solar loans and leases to PPAs – so you can pick whichever option that works best for you.
Plus, solar panels provide significant utility bill savings in most areas. An average home solar panel system can save between $1,000 and $1,600 per year on electricity bills depending on the states net metering policy and the homes energy consumption.
Actual solar savings will depend on the system size, the cost of electricity, home energy usage, and what net metering policies are in place, but the average solar homeowner can expect their solar payback period to be between 8 and 11 years. After that, theyll be enjoying completely free solar electricity for at least 15 more years!
If youre still not convinced, you can use our solar panel calculator to find out how much solar costs and can save you for your specific home based on your average electric usage and prices in your area.
What Does A Solar Panel Installer Do
As a solar panel installer, you will be responsible for installing and servicing solar panels on buildings and land to ensure they efficiently convert solar power into renewable energy. Most of your work as a solar panel installer will be outdoors and at height.
The job role of a solar panel installer involves the following duties:
- Assessing locations to ensure they are suitable for solar panels
- Measuring up areas for installation
- Making adjustments to building surfaces so panels fit and are adequately supported
- Installing and maintaining solar panels on homes, business premises or open land
- Connecting solar panels to an electrical system
- Grounding electrical equipment and checking wiring
- Adhering to strict health and safety guidelines
- Performing maintenance checks and fixing solar panels
- Using a variety of technical equipment and tools
You May Like: How Do Free Solar Panels Work
Q How Much Does It Cost To Become A Solar Panel Installer
Its possible that it may not cost you anything in order to become a Solar Panel Installer.
That doesnt mean that there are employers who require at least a two-year education.
An Associates degree in renewable energy can take around two years to complete and costs anywhere from $10,000 to $15,000.
Many programs are available for people interested in working as Solar Panel Installers as well.
These programs can cost anywhere from $400 to $1,500 to complete.
Solar Battery Storage System Cost By Type
There are three main types of batteries for solar battery storage systems. The most common types include lead-acid, lithium-ion, and lithium-iron-phosphate batteries. While lead-acid batteries have been around for longer and are tried and true, lithium-ion and lithium-iron-phosphate batteries are gaining in popularity due to their lower maintenance requirements.
Lets see how each stacks up in terms of cost:
Read Also: Is Solar Energy Carbon Neutral
Factors That Determine How Much Money Solar Panel Companies Make
Some solar panel businesses in the country make money through offering their investors a stream of revenue at a fixed percentage. For instance, if someone invests in the company and is told that they will get a guaranteed 8 percent return on their investment over the next few years, the company can make money if they are making more than that on the investment.
If the company makes 10 percent on that investment, giving them a 32 percent return on the investment, while still giving their investors a great return on their money, it makes everyone happy.
2. Product and Service Mix
There are different types of solar panels from three to three hundred watts and the price and mark-up of each varies accordingly. There are also lots of solar products a solar panel business can sell in the United States to make more revenue. For example, solar attic fans, solar PV, solar thermal systems, solar pumps, solar lights, even solar chargers and many other solar products.
3. Tax Credits
Another way some solar panel businesses in the United States make money is through tax credits. These are put into place to help people switch over to solar, but they also allow the company to write off a large number of things.
4. Payment Options
In fact, its not new to see annual processing bills in thousands of dollars for a mid market solar company. With industry averages of 8-10 percent this hardly seems fair nor does it help the profit margin of the business.
5. Business Location
Frequently Asked Questions About A Solar Installer Salaries
The national average salary for a Solar Installer is $47,219 per year in United States. Filter by location to see a Solar Installer salaries in your area. Salaries estimates are based on 398 salaries submitted anonymously to Glassdoor by a Solar Installer employees.
The highest salary for a Solar Installer in United States is $66,190 per year.
The lowest salary for a Solar Installer in United States is $33,685 per year.
Recommended Reading: Do Solar Panels Charge At Night
What Are The 2 Main Disadvantages Of Solar Energy
Disadvantages of solar power
- Cost. The initial cost of purchasing a solar system is quite high.
- Depending on the weather. Although solar energy can still be collected during cloudy and rainy days, the efficiency of the solar system decreases.
- Storing solar energy is expensive.
- Uses a lot of space.
- Associated with pollution.
What Is The Career Outlook And Progression For A Solar Technician
The BLS predicts that openings for solar photovoltaic installers will grow 63 percent between 2018 and 2028, which is much faster than the average five percent growth predicted for all occupations in the U.S. In fact, this is one of the top-growing occupations across the country. The BLS attributes this increase to the expansion in demand for solar panel installations.
The number of jobs available is a function of the cost of solar installations. Federal, state, and local government incentives make installations more affordable. As solar panels are improved, and more manufactured, the installation costs will decrease. Power companies that offer net metering also offset the cost of solar installations. As more businesses and homeowners can invest in solar power, the demand for solar technicians will increase.
The BLS released a comprehensive report on the growth of solar power in the U.S. and solar-related careers. The list of professions includes scientific research, solar power engineering, manufacturing of solar energy, and solar power plant development, construction, and operations.
Becca Brewer is building a better future on a thriving earth by healing herself into wholeness, divesting from separation, and walking the path of the loving heart. Previously to her journey as an adventurer for a just, meaningful, and regenerative world, Becca was a formally trained sexuality educator with a master of education.
Also Check: How Long To Pay Off Solar Panels
How To Become A Solar Installer
Becoming a solar panel installer is probably not as hard as you think. It sounds like a highly technical career, but in fact, you do not need years of college education to become one.
Most solar technicians have a high school diploma and have received certification from a trade school. The sorts of things you will learn in a trade school are basic electrical safety, necessary mathematics, the technology and functionality of solar systems, as well as installation techniques.
These courses do not typically take too long and you can be a practicing solar technician within months or weeks. If you are still unsure, why not read what other people are saying about our courses.
What Is The Cost Of A Solar Panel Installation For An Average 2000 Square Foot Home Today
The average cost of a residential solar panel installation in 2021 ranges between $18,000 and $20,000, before applying tax credits or other incentives that may be available where you live. This works out to between $2.75 and $3.35 per watt of solar installed, depending on your location and the brands of solar equipment used.
Once you take the federal solar tax credit into account, the overall cost drops to an average of between $13,320 and $14,800 – thats almost 80% lower than the cost of solar 10 years ago! Our solar panel cost and savings calculator will show you local incentives you may be eligible for to help lower the upfront costs.
You May Like: How Do My Solar Panels Work
What Else Should I Keep In Mind For The Installation Process
You might have to pay more to install your new solar battery system if it needs to be retrofitted into an old system. Prices can increase by $1,000 to $3,000 for a major retrofit, especially if your installation requires extensive electrical work. Similarly, if you want or need a backup load panel for emergencies, youll need to account for those expenses which fall between $1,000 to $2,000 extra.
Start Your Solar Battery System Installation Now
Solar Panel Costs By State
Solar panel costs in the U.S. typically include equipment and installation services. Visit the Solar Energy Industries Association website to learn about local incentives and tax credits in your area. Its usually in your best interest to take advantage of state clean energy programs when you can it lowers your upfront costs and shortens your payback period. According to our analysis, Washington is the greenest state, followed by Oregon and New Hampshire.
Also Check: Where To Buy Solid Gold
Average Training Program Duration: 1
Whether you go to college online or in person, or if youd prefer to start a technical school program, the time it takes to train to become a Solar Panel Installer may vary.
People that want to work in construction as Solar Panel Installers can earn an Associates degree, which can take about two years.
Sometimes, its possible to gain employment as a Solar Panel Installer with no training whatsoever, but most employers will not hire anyone that doesnt have at least 6 weeks to two months of training.
This can be done through a trade school, online, or possibly through your prospective employer as well.