Solar power is a form of energy generated through the conversion of the sun's rays into electricity for powering a household or business. When thinking of solar power in general, glass panels mounted on rooftops are usually what comes to mind.
But the solar panels themselves are just the tip of the iceberg in what ultimately makes up the entire system of components that work together in order to generate electricity.
The Solar inverter converts the direct current (DC) into alternating current (AC) electricity. This article will introduce you to the difference between DC current and AC current. Please check details in the following link Why AC current is used in Home appliances instead of DC?
With the direct current converted into alternating current, electricity is then sent directly to the home where it can power multiple appliances depending on the size and efficiency of the solar array.
There are different types of solar PV systems, and the distribution of the electricity generated by your solar system differs depending on the type you own.
If you own a grid-tied solar panel system, one that’s connected to the utility power grid, your household will only receive and use the exact amount of electricity that it needs. The electricity that you aren't using gets sent to the utility grid and you receive compensation in return in the form of net metering.
When it comes to an off-grid solar panel system, any excess power that’s generated is sent to your solar battery bank for later use.
Most suited for small or mid-sized homes, a 3kw solar PV system is considered to be on the smaller side of the spectrum. A solar system of this size would be able to produce around 12 kilowatt hours (kWh) per day for a total of 360kWh per month, give or take.
This solar PV system can power various kitchen appliances such as your refrigerator, microwave, dishwasher, and freezer, as well as your water heater, television, computer, and phone charger.
The average household in the U.S uses about 900 kilowatt hours of electricity per month. While you won't eliminate your entire electricity bill with a 3-kilowatt solar system, it will help reduce the amount you spend on utilities and save you some money in the long run.
The amount of money a solar system saves depends on the cost of electricity in your state. A rough estimate of what your yearly savings could see you save a minimum of around $300 and a maximum amount of around $900 per year.
While they’re a larger investment in the beginning, because of what an 8kW solar system can power, you could save more money on a larger system in the long run.
You first need a rough estimate of the number of solar panels required for a 3-kilowatt solar system. A system this size needs between 6 solar panels in total. This of course depends on the maximum energy output of the solar panels.
A standard residential solar array usually uses 500-watt units. A 3-kilowatt solar PV system has a maximum power output of 3,000 watts, so you would need around 6 of those 500-watt solar panels to form a 3-kilowatt system.
Each 500-watt solar panel measures approximately 30 square feet. This works out to around 180 square feet of roof space facing, also accounting for extra spaces between the panels.
If your roof doesn’t have enough room or is at the incorrect angle, you also have the option of mounting your solar array on the ground. Granted, this also requires the same amount of space, but if you have a big enough yard then a ground-mounted solar array is a more than viable option.
Having a solar installation can be quite a hefty investment. This is why some consideration is necessary before making the purchase.
According to the SEIA (Solar Energy Industries Association), the cost of solar per watt in the U.S sits at just under $3.00. This puts the price of a 3 kilowatt (3,000 watts) solar panel system at around $9,000, although the price varies from brand to brand.
On top of the upfront costs of the system and installation, there are still things like the mounting structures and maintenance to consider as well.
Luckily, there’s a silver lining when it comes to costs and it takes the form of federal solar tax credit and other kinds of financial aids and incentives aimed at potential solar panel owners.
The payback period of a solar system refers to the long-term savings you will accumulate by relying on this alternative source of energy. The goal is to ultimately make back the money that the solar system installation costs you in the first place.
It is, in a sense, a return on your investment.
On average, the payback period for most solar installations is about 8 years. Having a 3-kilowatt system, however, can see you profiting in as little as 3 years after installation.
The time it takes to see a return on your initial investment varies depending on how you use the system, the cost of electricity in your area, as well as how much you can leverage the federal solar tax credit.
If you're eligible for it, the federal solar tax credit allows you to receive credit on your taxes equivalent to the value of as much as 30% percent of the cost of your solar installation. This system helps to reduce the overall cost of your solar PV system by saving you some money in return.
Through the federal solar tax credit, a 3-kilowatt solar system that costs $9,000 would have the overall price reduced to just under $6,700.
To be eligible for the tax credit you will need to have complete ownership of the property as well as the solar PV system itself, which means that you will not qualify for the tax credit if you own the system via solar lease. This probably goes without saying, but you need to have a taxable income as well.
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