Is An 8 kW Solar Panel System Suitable For Your Needs?
Do you want to know Is An 8 kW Solar Panel System Suitable For Your Needs? As power bills will continue to rise as we transition to electric houses, electric vehicles, and remote work. But don’t worry, solar panel systems are also growing in size. To offset the costs of their electric-intensive lifestyle, an increasing number of households are receiving quotations for 8 kilowatt (kW) solar panel installations.
However, the amount of solar power you require will vary substantially based on your energy use and where you reside. Is an 8 kW solar panel system suitable for your needs? Let us investigate more.
What is the cost of an 8 kW solar system?
When purchased with cash, an 8 kW solar panel installation will most likely cost between $21,200 and $26,000. This equates to $2.65 to $3.25 every watt of solar installed.
It is not cheap, but don’t worry, there are incentives available to aid with the initial costs. The 30% federal solar tax credit, for example, would reduce the price to around $16,000 or less. Further state, local, or utility incentives may be available depending on where you reside!
The table below shows the average cost of establishing an 8 kW solar panel system in various states across the United States:
|State||Est. installed cost||Est. cost after tax credit|
Solar loans: To help with the hefty initial costs, many homeowners finance their solar installation using a solar loan. Due of interest and dealer fees, the total cost of a solar system acquired with a loan will be slightly more than if purchased outright. A A loan-financed 8 kW solar panel installation will cost around $29,000 before the federal tax credit, vs $24,000 for a cash purchase.
How much electricity is produced by an 8 kW solar panel system?
An 8 kW solar panel system will provide 700 to 1,400 kWh of electricity each month, depending on your specific home and location.
The amount of sunlight that your roof receives is a major determinant in how much energy solar panels produce. In a sunny state like Arizona, an 8 kW solar system will generate more electricity than an 8 kW system in Alaska.
The qualities of your roof will also influence the amount of electricity produced by your solar panels. In the United States, south-facing rooftops are optimal for solar generating. Roofs facing other directions will still generate electricity, but not as much as those facing south.
How many solar panels does an 8 kW solar system require?
8 kW solar panel systems typically employ 20 to 22 solar panels and require approximately 390 square feet of roof area. The number of solar panels required for an 8 kW system is determined by the panel’s power rating.
If you utilised 350 watts, for example, you’d need roughly 23 panels. Most panels today are closer to 400 watts, therefore 20 will suffice to get 8 kW. The chart below shows how many solar panels you’ll need for an 8 kW solar system based on panel wattage:
|Panels needed for 8 kW||Panel wattage|
How much money can you save with 8 kW of solar panels?
Based on the average energy rate in the United States, an 8 kW solar system can save you around $150 on your monthly electricity bill. That’s approximately $1,800 in solar savings each year!
The actual amount of money that an 8 kW solar system will save varies greatly by state. Finally, how much electricity your home uses, how much electricity your solar panels produce, the net metering legislation in effect in your area, and how much your utility charges for electricity will determine your solar bill savings.
In Massachusetts, for example, an 8 kW solar system will create approximately 730 kWh of electricity in one month. At an average electricity rate of $0.26 per kWh, that’s an almost $190 bill savings. In North Carolina, however, the identical solar system would produce closer to 1,100 kWh per month due to more sunlight. But, because power rates are lower, at $0.12 per kWh, the bill savings would be approximately $130.
Can you set up an 8 kW solar system on your own?
Absolutely, you can install your own 8 kW solar system. 8 kW solar panel installation kits are available online, and they include all of the solar installation equipment needed to finish the system, such as panels and inverters. A good quality 8 kW solar kit should cost at least $12,000, but don’t be surprised if the entire price exceeds $15,000.
Before you begin, there are a few things you should know about DIY solar installations. For starters, installing solar panels without any training might be dangerous. Solar installations are typically electrical projects that necessitate working at tremendous heights.
In addition, you must be comfortable working on a roof and with electricity. When you do a DIY solar project, you also risk voiding equipment warranties.
Not to mention that installing solar panels yourself may be against the law in your area. Solar panels must be connected to the grid by an electrician or a qualified solar expert in many states and municipalities.
You will be unable to connect to your utility if you do not have the necessary licenses. If you intend to install an off-grid solar system, check to see if it is permitted in your municipality.
Overall, we recommend hiring a solar professional since it is the best way to ensure that your solar installation is done safely and correctly. You may have to pay a little more money, but we believe it is eventually worthwhile. Consider gathering quotes from installers in your region to see whether DIY is the best option for you.
Is it worthwhile to invest in an 8 kW solar panel system?
The decision to invest in a solar panel system depends on several factors, including the cost of electricity in your area, the amount of sunlight your location receives, the size of your energy needs, and the available incentives for renewable energy.
Assuming that you have already evaluated these factors and determined that a solar panel system is a viable option for you, an 8 kW solar panel system can be a significant investment but can also provide substantial benefits in the long term.
If you live in an area with high electricity rates, you can recoup your investment quickly, often within six to eight years, through the savings on your electricity bills. Additionally, many states and utilities offer incentives such as tax credits, rebates, and net metering, which can significantly reduce the upfront cost of the system and increase your return on investment.
In conclusion, if you have evaluated the factors and determined that a solar panel system is a viable option for you, an 8 kW solar panel system can be an excellent investment that provides significant long-term benefits.