Setup Cost Formula:
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Definition: This calculator estimates the total cost of a solar energy installation by summing the costs of panels, inverter, and labor.
Purpose: It helps homeowners and businesses plan their solar energy projects by providing a quick cost estimation.
The calculator uses the formula:
Where:
Explanation: The three main cost components are simply added together to get the total installation cost.
Details: Accurate cost estimation helps with budgeting, financing, and ROI calculations for solar energy projects.
Tips: Enter the cost for each component in dollars. All values must be ≥ 0.
Q1: What's included in panel costs?
A: This includes all photovoltaic panels needed for your system.
Q2: What affects inverter costs?
A: Inverter costs vary by system size, type (string vs microinverters), and brand.
Q3: What does labor cost typically include?
A: Labor covers installation, wiring, mounting, and connection to your electrical system.
Q4: Are permits included in this calculation?
A: No, permit costs should be added separately as they vary by location.
Q5: Should I include tax credits or rebates?
A: No, this calculates gross costs before any incentives or tax benefits.