Have you decided to install solar panels on your roof? Then it is time to start creating a budget for this project! Of course, prices vary from contractor to contractor, so this article will not give you a clear cut number. Instead, we will offer you helpful advice on how to plan your budget.

  1. Assess the Electricity Needs of Your Home

The total price of the solar panel installation depends, first of all, on the number of panels you need. Each solar panel has a nominal capacity of generating solar energy. Thus, you need to determine how much electricity your house uses.

You can do this by looking at the electricity bills for the last year. By adding up all the kilowatts and dividing the result by 12, you will get a fairly accurate estimate.

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  1. Consider How Much Sunlight You Have in Your Area

The size of the solar panel installation also depends on how much sunlight the panels can absorb over the year. Depending on the average temperature of the sun rays hitting the panels and the peak hours of sun exposure, a specialized solar Denver contractor will determine how many solar panels you need.

  1. Find Out About the Tax Incentives You Can Benefit From

Each US state has a different policy on rewards and incentives for homeowners who install solar panels. Any tax rebate or credits you can get are welcome, because in the end they will lower the total cost of your solar panel installation project.