Start-Up Claims it Can Halve the Cost of Residential Solar
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One of the major barriers for anyone looking into a residential solar system is the hefty price tag, but a start-up called Solar Red claims it can halve the cost of residential systems. The company’s major product is a solar panel mounting system that uses brackets to weave in with roof shingles. These can be installed during construction or retrofitted. After the brackets are installed, the solar panels quickly snap into place.
Since the brackets are so cheap to manufacture, Solar Red claims its solar system only adds $825 in costs to a new roof. As new solar technology comes along, solar panels can be removed within minutes and replacements can be placed on the brackets.
So, what’s the actual cost difference between traditional solar and Solar Red? A typical 5kW residential system costs about $42,000. With tax credit and incentives, that drops to $19,000. Solar Red’s system costs approximately $32,000, but credits and incentives lower the price to only $10,000. That may not be affordable to many people, but it’s certainly more attractive than a $19,000 investment.
Solar Red is in the process of emerging from stealth mode, so more details will be reported as they become available.
Companies and homeowners are finding more and more ways to cut residential solar power costs. This system looks like a promising one further helping to make solar power more affordable.
Photo Credit: NREL
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