1) Equipment – The equipment that you will need such as the solar modules, DC disconnect, charge controller, battery bank, meter gauges, power inverter etc will make up a large portion of your total home solar power system budget. If you are working on a tight budget, you can source for cheap components at auction sites such as ebay for used or reconditioned parts.
2) Installation costs – If you are building the solar system via a Do It Yourself (DIY) approach, you won’t have to worry about this portion. All of the work will be done by you. The installation cost comes in when you outsource the work to a professional contractor. The cost may be either fixed or an hourly rate, depending on the complexity of the job.
3) Refuse – Don’t forget about the trash generated from your home improvement project. If you have to pay to get the trash hauled away, add in this cost.
4) Maintenance – Everything breaks down sooner or later. Even though a residential solar power system has no moving parts, you will still need to service it. Servicing will cost you money. Maintenance cost during the first couple of years is minimal because most of the components are still covered under the manufacturer warranty.
5) Taxes, permits, fees – If you need a permit to install the solar system, note when such charges are due.
6) Interest – You have to add in interest charges if you are financing the equipment for your solar energy system. Depending on how much money you borrow, the interest costs will vary.
7) Taxes – Many states have legislation that lets you install solar equipment without paying higher property taxes, but you should find out whether it applies to you. In rare cases, property taxes may go up as a result of a solar investment.
Will Yap writes about DIY Solar Homes at http://www.diysolarhomes.com If you want to know how to start your own home solar energy system with minimum cost, check out the Earth 4 Energy e-book. The manual will show you how and where to source for cheap parts and components for your DIY project. For more information, read the Earth4Energy e-book review at the web site.
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