How Much Will a 2kW Solar System Save?
Investing in a 2kW solar system can lead to significant savings on electricity bills. On average, this system can save up to $621 per year. Over the 25-year lifetime of the solar panels, the total savings can amount to $15,513.
Rising Cost of Electricity
It is important to consider the rising cost of electricity when evaluating the potential savings of a 2kW solar system. Over the past 40 years, the cost of electricity has increased by 270%. This trend is depicted in the chart below, illustrating the need for homeowners and businesses to seek alternative energy sources.
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 advantages of solar energy is that the more self-generated electricity you consume, the less you pay to utility companies. By relying on your solar panels to power your home or business, you can significantly reduce your dependence on the grid and enjoy substantial savings on your electricity bills.
Solar Energy for a Profit
It is worth noting that any excess electricity generated by your 2kW solar system can be sold back to the grid. This allows you to not only save on electricity costs but also potentially earn money from your investment. Based on current electricity costs, you can expect a 20% return on your investment per year by selling the surplus energy back to the grid.
2kW Solar Panel System Price
The typical cost for a 2kW solar system is around $4,000. It is important to highlight that solar panel prices have significantly decreased over the past 10 years, making renewable energy more accessible and affordable for homeowners and businesses.
Source: The National Renewable Energy Laboratory (NREL)
2kW System with Battery Backup
When considering a 2kW solar system, it is crucial to evaluate the need for battery backup. There are two primary types of batteries commonly used in solar systems: lead-acid and lithium polymer.
To determine the appropriate battery sizing for a 2kW solar system, calculations need to be made based on the desired depth of discharge and inefficiency factors. For a lead-acid battery, the calculation would be 2kWh x 2 (for 50% depth of discharge) x 1.2 (inefficiency factor) = 24 kWh. On the other hand, for a lithium battery, the calculation would be 2kWh x 1.2 (for 80% depth of discharge) x 1.05 (inefficiency factor) = 13 kWh.
It is highly recommended to opt for lithium batteries for a 2kW solar system, as they require only half as many batteries compared to lead-acid. Additionally, purchasing batteries and panels together can help reduce overall costs.
2kW Off-Grid Solar System
If you are considering an off-grid solar system, you will need to purchase 7 or more panels for a 2kW system. Additionally, you will require 13 kWh worth of lithium polymer batteries to ensure a full cycle of energy storage. The typical cost of batteries required to run a 2kW off-grid solar system is approximately $5,922.
How Many Panels Are Needed?
A 2kW solar system typically utilizes panels with a power rating of 300 watts. Therefore, to achieve the desired 2kW output, you will need 7 or more panels.
If you need different power requirements, check out 1.5 kW solar systems
How Big is a 2kW Solar System?
Considering that each panel has a size of 17 sqft, and you will need 7 panels for a 2kW system, the total footprint will be 113 sqft.
How Many kWh Does a 2kW Solar System Produce? (Load Per Day)
On average, a 2kW solar system can produce approximately 10 kWh of electricity per day. This estimate is based on the assumption that the panels receive at least 5 hours of sunlight. Consequently, the system can generate approximately 300 kWh per month and 3650 kWh per year.
There are also 2.2 kW solar systems if you need a different sized system.
How Many Batteries Needed For a 2kW Solar Panel System?
The number of batteries required for a 2kW solar system depends on the battery type chosen. For the recommended lithium polymer batteries, you will need 13 kWh worth of batteries. It is possible to purchase a single battery system or wire several smaller batteries together to meet the required capacity.
Is a 2kW Solar System Worth It?
Investing in a 2kW solar system can be highly beneficial, particularly if you live in an area with ample sunlight. With an annual electricity savings of $621 and a 20% return on investment based on the current costs of panels ($4,000 for this system), it is evident that a 2kW solar system is a worthwhile investment. Take advantage of the decreasing costs of solar panels and enjoy long-term financial and environmental benefits by going solar.
