Residential Solar Power



Home > Learning Center > Residential Solar Power Residential Solar Power Residential solar power dates back to the 1970s in the United States. Since then the cost of residential solar power has dropped significantly. The cost of 1 kW of solar energy has dropped 99%. The cost of a homeowner's residential solar power system is determined by three different things. First, the solar system size will determine how much money equipment is necessary. Second, state rebates will account for any decreases in price. Also, a federal tax credit will reduce costs as well. Some states such as California have loan programs for residential solar power. Guarantee Bank in California has a program through Clean Power Finance that is designed to accommodate investments in solar power for the home. Consumers should investigate whether their state has similar options because the current credit crunch has made it more difficult to acquire loans through home equity.

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