How Much Will a 7kW Solar System Save?
Installing a 7kW solar system can lead to significant savings on your electricity bills. On average, a 7kW solar system can save you up to $2,172 per year. Over the 25-year panel lifetime, this can result in savings of $54,294.
Rising Cost of Electricity
Before diving deeper into the savings potential of a 7kW solar system, let’s take a moment to understand the rising cost of electricity. Over the past 40 years, electricity costs in the United States have increased by a staggering 270%. This upward trend is evident from the chart below:
Source: U.S. Bureau of Labor Statistics
By harnessing solar energy, you can protect yourself from these rising costs and gain more control over your electricity expenses.
See also: Solar Panel Systems: The Ultimate Guide to Going Green in 2023
Electricity Saving
One of the primary benefits of a 7kW solar system is the ability to generate your own electricity. The more self-generated electricity you use, the less you rely on utility companies and, subsequently, the less you pay them. By reducing your reliance on the grid, you can save a significant amount of money on your electricity bills.
Solar Energy for a Profit
Installing a 7kW solar system can not only save you money but also potentially generate profits. Any excess electricity that your system generates and you don’t use can be sold back to the grid. This allows you to make money from the solar energy you generate. In fact, based on current electricity costs, you can expect a 20% return on your investment per year from your solar panels. It’s like having a mini power plant on your rooftop!
7kW Solar Panel System Price
Now, let’s discuss the price of a 7kW solar system. On average, the typical cost for a 7kW solar system is $14,000. It’s worth noting that solar panel prices have come down substantially over the past 10 years, making solar energy more affordable and accessible to homeowners.
Source: The National Renewable Energy Laboratory (NREL)
7kW System with Battery Backup
If you’re considering a 7kW solar system with battery backup, there are two main types of batteries to choose from: lead acid and lithium polymer. When sizing the batteries, the following calculations are typically used:
Lead Acid Sizing:
7kWh x 2 (for 50% depth of discharge) x 1.2 (inefficiency factor) = 84 kWh
Lithium Sizing:
7kWh x 1.2 (for 80% depth of discharge) x 1.05 (inefficiency factor) = 44 kWh
Based on these calculations, it is highly recommended to choose lithium polymer batteries as they require half the number of batteries compared to lead acid batteries. Additionally, purchasing batteries and panels together can reduce costs.
7kW Off-Grid Solar System
For those interested in an off-grid solar system, a 7kW setup will require a larger number of panels. To achieve a full cycle, you will need at least 23 panels. Furthermore, approximately 44 kWh worth of lithium polymer batteries are needed to power a 7kW off-grid system. The typical cost of batteries required for such a system is $20,727.
How Many Panels Are Needed?
To achieve a 7kW solar system, most panels available in the market are rated at 300 watts. Therefore, you will need at least 23 panels or more to reach a total capacity of 7kW.
How Big is a 7 kW Solar System?
Considering that each panel occupies approximately 17 sqft, a 7kW solar system with 23 panels would have a total footprint of 397 sqft. It’s important to account for the available space on your rooftop or property when planning the installation.
How Many kWh Does a 7kW Solar System Produce? (Load Per Day)
A 7kW solar system can typically produce an output of 35 kWh per day. However, this figure depends on various factors, such as the availability of sunlight. Assuming the panels receive at least 5 hours of sunlight, this would amount to 1,050 kWh per month and 12,775 kWh per year.
There are also 8 kW solar systems if you need a different sized system.
How Many Batteries Needed For a 7kW Solar Panel System?
The number of batteries required for a 7kW solar panel system depends on the battery type, such as lead acid or lithium polymer. If you opt for the recommended lithium polymer batteries, you would need approximately 44 kWh worth of batteries. You can choose to buy a single battery system or wire multiple batteries of smaller sizes together.
Is a 7kW Solar System Worth It?
Considering the cost savings and potential return on investment, a 7kW solar system can be a worthwhile investment. If you live in an area with decent sun exposure, you can generate approximately $2,172 worth of electricity every year. This translates to a 20% return on investment based on the current cost of the 7kW system, which is $14,000. With these financial benefits and the positive impact on the environment, installing a 7kW solar system sounds like a great deal.
In conclusion, a 7kW solar system offers substantial savings on electricity expenses and the potential to generate profits. The decreasing cost of solar panels coupled with advancements in battery technology make this system highly efficient and cost-effective. Whether you choose an on-grid or off-grid setup, a 7kW solar system can be a valuable addition to any home or business.
