How Much Will a 20kW Solar System Save?
Investing in a 20kW solar system can lead to significant savings on your electricity bills. On average, a 20kW solar system can save you up to $6,205 per year. Over the course of its 25-year panel lifetime, you could save a whopping $155,125.
Rising Cost of Electricity
The cost of electricity has been steadily increasing over the past 40 years. According to the U.S. Bureau of Labor Statistics, there has been a staggering 270% increase in electricity costs during this period. This rise in electricity costs makes solar energy an even more cost-effective and attractive option for homeowners and businesses alike.
Source: U.S. Bureau of Labor Statistics
See also: Solar Panel Systems: The Ultimate Guide to Going Green in 2023
Electricity Saving
One of the key benefits of solar energy is that the more electricity you can self-generate, the less you have to pay utility companies. By relying on solar power to meet your energy needs, you can significantly reduce your dependency on the grid and enjoy substantial savings.
Solar Energy for a Profit
Not only can you save money on electricity bills, but you can also turn your solar energy investment into a profitable venture. With a 20kW solar system, you can generate more electricity than you consume. The excess electricity can be sold back to the grid, allowing you to earn money from your solar panels. Based on current electricity costs, you can expect a 20% return on your investment per year on the panels alone.
20kW Solar Panel System Price
The typical cost of a 20kW solar system is approximately $40,000. However, it is important to note that prices have come down substantially over the past decade, making solar energy more affordable for a wider range of consumers.
Source: The National Renewable Energy Laboratory (NREL)
20kW System with Battery Backup
If you are looking to add battery backup to your 20kW solar system, there are two main options: lead acid and lithium polymer batteries. When sizing the battery capacity, factors such as depth of discharge and inefficiency must be taken into account.
For a lead acid battery system, you would need to size it at 20kWh x 2 (for 50% depth of discharge) x 1.2 (inefficiency factor), resulting in a required capacity of 240 kWh. On the other hand, a lithium polymer battery system would only need to be sized at 20kWh x 1.2 (for 80% depth of discharge) x 1.05 (inefficiency factor), resulting in a required capacity of 126 kWh. Therefore, lithium polymer batteries are highly recommended as they require only half as many batteries compared to lead acid batteries.
To reduce costs, it is advisable to purchase the batteries and panels together as a package.
20kW Off-Grid Solar System
If you are considering an off-grid solar system, you will need to ensure that it can meet your energy demands without relying on the grid. For a 20kW off-grid solar system, you will need to purchase 67 or more solar panels. Additionally, a total battery capacity of 126 kWh worth of lithium polymer batteries is needed to ensure a full cycle of energy storage and supply. The typical cost of batteries required to run a 20kW system is around $59,220.
How Many Panels Are Needed?
Most solar panels have a capacity of 300 watts. To achieve a 20kW solar system, you will need 67 or more panels. Each panel occupies approximately 17 square feet, resulting in a total footprint of 1133 square feet for a 20kW solar system.
How Big is a 20 kW Solar System?
Considering that each solar panel occupies 17 square feet and you will need a total of 67 panels, a 20kW solar system will have a total footprint of 1133 square feet.
How Many kWh Does a 20kW Solar System Produce? (Load Per Day)
On average, a 20kW solar system can produce approximately 100 kWh of electricity per day. This estimate assumes that the panels receive at least 5 hours of direct sunlight. Considering this daily output, a 20kW solar system can generate around 3000 kWh per month and 36,500 kWh per year.
There are also 24 kW solar systems if you need a different sized system.
How Many Batteries Needed For a 20kW Solar Panel System?
The number of batteries needed for a 20kW solar panel system depends on the battery type. If you opt for the recommended lithium polymer batteries, you would require a total battery capacity of 126 kWh. It is possible to either purchase a single battery system with the necessary capacity or wire several batteries of smaller sizes together to meet the required capacity.
Is a 20kW Solar System Worth It?
Investing in a 20kW solar system can bring significant financial benefits, particularly if you reside in an area with ample sunlight. With the potential to generate $6,205 worth of electricity every year, a 20% return on investment can be achieved based on the current costs of panels ($40,000 for this system). These figures make a 20kW solar system a compelling and economically wise choice for individuals and businesses alike.
By harnessing the power of solar energy, you can not only reduce your electricity bills but also contribute to a greener and more sustainable future. The combination of cost savings, potential profitability, and environmental stewardship makes a 20kW solar system an investment that should not be underestimated.
