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Solar PV Guide: Prices, Design, Installation & Pay-off Period (ROI)
Solar Photo-voltaic (PV) technology is the way of the future, for generating and supplying electric power for homes and businesses in the US and across the world. Despite the great potential of Solar PV, current cost and efficiency of solar panels makes them a green, yet expensive alternative to conventional ways of generating electricity, such as Coal, Gas and Oil fired power plants as well as Nuclear and Hydro electricity.
Main obstacle that is holding the wide-spread of solar PV is the long ROI (return on investment) that in some situations may exceed 10 years. Fortunately, US federal government and local and state governments have a multitude of incentives and rebate programs for solar and other renewable energy projects.
Planning a Solar PV system
When considering installing a Solar PV system, you as home or business owner will need a to know the future size of your solar system in kW ( 1 kilo watt is 1000 watts) and the cost associated with this solar system. You also need to establish your current annual electricity usage and decide if you want to reduce pletely eliminate the use of electricity that you purchase from your pany.
First, gather your electric bills for the last 12 months, record your total electricity consumption – the number of kW-hours, and your the total amou