solar panel

Are you looking to take the next big step in shrinking your energy footprint and helping the environment? Solar panels are an excellent way to save money and help save the world one energy bill at a time.

The benefits of solar panels are innumerable, but the costs can be too. It’s important to know how much solar panels cost before you jump in.

What Do Solar Panels Cost?

The average estimate for purchasing and installing solar panels ranges between $15,000 and $25,000, with the possibility to go over or under those estimates. These prices change depending on a myriad of factors we’ll explore.

Incentives

Solar panel savings can be big, depending on the energy used in your home. But another spot to save that can impact the cost of solar panels is tax incentives.

It’s a good idea to look into what kinds of breaks you might be able to apply to the cost, which could be upwards of 20%. However, these incentives fluctuate, so it’s a good idea to look into specifics for your area and what federal incentives may look like this year.

How Many Panels

This is obvious, but the more panels you need, the more expensive the bill. The amount of energy your household uses will determine how many solar panels and energy you require. Talking with solar installation companies will also help you better estimate what your specific home will benefit from. 

Panel Type

There are many reasons to go solar, but when doing so, you have to consider overhead costs, and one of these is the type of solar panel you want. Not all solar panels are the same, and different designs will cost different amounts, with their own varying perks. You can look into the three main types of panels to better understand what you want to be installed and get an estimate from there.

Location

Different states have different general costs for installing and maintaining solar panels. You will also be looking at different long-term savings depending on where you live. If you use a lot of energy, solar panels may be perfect for you. But if your energy bill fluctuates a lot, you can expect the initial savings to also.

Your house will have an impact as well. Depending on your roof and the panels that will work best with that design can change prices. Is your roof steep? Do you have skylights and other spaces where panels wouldn’t work? These factors will impact your overall installment costs.

Investing in Your Future

General solar panels cost varying prices, but you could be looking at a bill as low as $11,000 with tax incentives and other saving opportunities. And certainly, the cost of solar panels pales in comparison to the benefits. 

By generating your own power using the sun, you are helping your own long-term finances as well as the earth. Going solar is a great option, and since costs fluctuate, you can probably find one that meets your needs and budget.

If you found this helpful in your solar panel journey, keep checking our blog for more great lifestyle tips.