As the world becomes more climate-conscious, more and more homeowners are considering installing solar panels. While solar panels can create “free” power, you still need to pay to install them.
Prices can vary based on your location as well as capacity and efficiency.
After solar tax credits, the average solar panel cost can range from $11,000 to $15,000. If you just need a few panels for a small energy project then you can expect to pay around two hundred dollars for each panel.
If you’d like to learn more then keep on reading and we will take you through everything that you will want to know!
How Much Does It Cost to Install Solar Panels?
After federal tax incentives, it usually costs around $12,000 to install solar panels in the United States. You can install a small system for around $5,000 and a big system for more than $40,000.
There are other costs that go into installing solar panels other than just the cost of the panels. In fact, the cost of the actual panels only makes up around one quart of the total cost of installation.
Additional equipment, such as control circuitry and inverters, operational costs, and labor costs make up the rest of the price.
Solar panel companies install the solar panels. They also offer warranties on both the work and the panels and provide maintenance. These services aren’t free, however, but they are usually worth the cost.
How Much Do Solar Panels Save?
When you switch to solar energy, you have the chance to reduce your power bill by up to three quarters. The savings that you will see are going to depend on your specific energy needs, what the climate is like, and where you live.
For example, a homeowner in Oregon is going to experience a lot smaller savings when compared to someone who lives in Los Angeles, California.
A lot of solar companies offer free calculator tools to help people estimate how much they can save by switching to solar panels. You should also consult your local solar installation company.
Most Americans have a power bill of around $100 to $200 each month. Depending on how much you pay for the solar installation, you could break even in five to fifteen years.
When you take the federal tax credit into account, a lot of solar panel systems start to pay for themselves within just a few years.
The Importance of Knowing the Average Solar Panel Cost
Hopefully, after reading the above article, you now understand what the average solar panel cost is. As we can see, when you have this information, you can better decide if installing solar panels is going to make the most sense for you.
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