Back in the late 1970’s and 1980’s solar power was considered to be a luxury that the rich turned to for generating their own electricity. For average working class consumers they either had to take out loans on their house to get started with solar power or they had to take baby steps to generating their own solar power over time.
Fast forward to the 21st century and solar power is more affordable now than ever before. Thanks to the economic recession, solar power has become more popular as millions of home owners are turning to this method of power generation so they can save money off their electricity costs. For many they using this saved money to invest in their children’s college fund or retirement planning. Yes, the saving are that grand!

What Does It Cost To Get Started?

Getting started with solar power generation all depends on the situation of the home owner. The factors that apply to the overall cost are:

• Size of your household.

•  How much electricity the household uses.

• How much sunshine your area receives.

• Government rebates that are available when you get started.

• The solar power energy system that you decide to choose.

Solar Power Hot Water System – Costs up to $4,000 USD.
Photovoltaic System – Costs up to $10,000

Take Advantage of Rebates

Thanks to government rebates the average family in the United States can save upwards of $10,000 off the cost of their solar power system.
Example: An average family of three that invests in a 2.5 KW system can expect to pay around $22,500 for their system. After they take advantage of any available government rebates and tax credits that are available at the time they can expect to pay a total out of pocket cost of $14,337.
Before investing in a solar energy system, a home owner should contact their local income tax professional to see what Federal and State rebates are available. In some cases it may be worth it to wait three to six months before investing in a solar energy system because, the tax rebates and incentives that are available to consumers are always changing.

Return on Investment

Thanks to the advancements in solar technology, the average solar power system has a 30 year lifespan. This means that a home owner who invests in solar power in their 40’s or 50’s can expect to continue enjoying the cost savings from generating their own electricity well into their retirement years.
For those consumers who don’t want to spend thousands of dollars on a solar power energy system, they can start small by investing in a unit to power their computers or small appliances in their home. Solar Power energy is a great way to save money and it will help any family.