How Much Will a 3.1kW Solar System Save?
By installing a 3.1kW solar system, you can save a substantial amount of money on your electricity bills. On average, this system can save you up to $962 per year. Over the 25-year lifetime of the solar panels, this adds up to a total savings of $24,044.
Rising Cost of Electricity
It is essential to consider the rising cost of electricity when evaluating the potential savings of a solar system. Over the past 40 years, electricity costs have increased by a staggering 270%. This upward trend is unlikely to change, making solar energy an even more attractive option for homeowners.
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 significant advantages of a solar system is the ability to reduce your reliance on utility companies. The more self-generated electricity you use, the less you will need to pay to utility companies. By maximizing your solar energy consumption, you can further reduce your electricity bills.
Solar Energy for a Profit
Another benefit of a solar system is the potential to generate income. Any excess electricity you generate but do not consume can be sold back to the grid. This means you can earn money from the energy your solar panels produce. Currently, you can expect a 20% return on your investment per year based on the current electricity costs.
3.1kW Solar Panel System Price
The typical cost for a 3.1kW solar system is around $6,200. However, it is essential to note that prices have come down substantially over the past 10 years, making solar energy more accessible than ever before.
Source: The National Renewable Energy Laboratory (NREL)
3.1kW System with Battery Backup
If you are considering adding battery backup to your 3.1kW solar system, you will need to choose between lead-acid and lithium polymer batteries. When sizing battery backup, the rule of thumb is to consider the depth of discharge and inefficiency factor.
For a lead-acid system: 3.1kWh x 2 (for 50% depth of discharge) x 1.2 (inefficiency factor) = 37 kWh
For a lithium system: 3.1kWh x 1.2 (for 80% depth of discharge) x 1.05 (inefficiency factor) = 20 kWh
Due to its efficiency, lithium polymer batteries are highly recommended as you will only need half as many batteries compared to lead-acid batteries. To reduce costs, it is advisable to purchase batteries and panels together as a package.
3.1kW Off-Grid Solar System
If you are looking to go completely off-grid with your solar system, there are additional considerations. For a 3.1kW off-grid solar system, you will require at least 10 panels. Additionally, you will need 20 kWh worth of lithium polymer batteries to ensure you have enough energy for a full cycle. The typical cost of batteries required to run a 3.1kW off-grid system is $9,179.
How Many Panels Are Needed?
Most solar panels in the market have a capacity of 300 watts. To achieve a 3.1kW solar system, you will need a minimum of 10 panels. However, depending on the specific panels you choose, you may need slightly more to reach the desired capacity.
If you need different power requirements, check out 3 kW solar systems
How Big is a 3.1 kW Solar System?
Each solar panel has an average size of 17 square feet. Therefore, with 10 panels, a 3.1kW solar system will have a total footprint of 176 square feet. It is essential to consider available space when planning the installation of your solar panels.
How Many kWh Does a 3.1kW Solar System Produce? (Load Per Day)
On average, a 3.1kW solar system can generate approximately 16 kWh per day. This estimate assumes that the panels receive at least 5 hours of direct sunlight. Over a month, this translates to approximately 465 kWh, and over a year, the system can produce around 5,658 kWh.
There are also 3.2 kW solar systems if you need a different sized system.
How Many Batteries Needed For a 3.1kW Solar Panel System?
The number of batteries required for a 3.1kW solar panel system depends on the battery type. If you opt for lithium polymer batteries, which are recommended, you will need 20 kWh worth of batteries. It is possible to purchase a single battery system or wire several batteries of smaller sizes together to meet the required capacity.
Is a 3.1kW Solar System Worth It?
Based on the current costs of panels and electricity rates, a 3.1kW solar system can be a worthwhile investment. If you live in an area with decent sun exposure, you can generate approximately $962 worth of electricity each year. This translates to a 20% return on investment, considering the initial cost of the system at $6,200. With the potential for long-term cost savings and environmental benefits, a 3.1kW solar system can offer an excellent return on investment for homeowners.
