A recent survey found that many US homeowners would love to go solar, but that upfront costs are making them wary.
A big benefit of solar energy is the savings, but you’re right to assume that you may have a big check to cut at the outset. However, this isn’t always the case.
How much does solar panel installation cost? It depends on a number of things, including where you live, how many panels you need, and what company you hire.
Read on to learn more about what impacts the cost of solar panel installation.
Solar Panel Costs
When we’re talking about the cost to go solar, we’d be remiss to overlook the cost of solar panels, themselves. In fact, this is where the bulk of your money goes. Sure, you’re paying for the labor it takes to get everything installed correctly, but the solar panels have the biggest price tag.
The price per watt tends to fall in the $2.50-$3.50 range. Small solar panel systems consist of 2 kW, costing approximately $6,000. Larger systems can cost upwards of $20,000.
Additional Solar Panel Installation Costs
To get a full picture of what you’re paying for, let’s break down the rest of the bill. Additional solar panel installation costs cover:
- the installation of solar mounts to install the panels on your property
- the installation of solar inverters to make your solar energy usable
- potential permit fees, inspection fees, and property taxes
- labor
Most companies will bill these costs and the cost of solar panels as one lump sum.
What to Look for in Solar Financing
If you’re thinking, “There’s no way that I can pay thousands of dollars upfront,” we’re with you. The good news is that a lot of companies have moved away from this model of immediate payment in order to make solar more affordable.
Take a look at this clean energy solution that involves no upfront fees or costs. Good solar companies allow you to pay off your new solar system in monthly installments, which are often cheaper than your current energy bill. Even as you pay off the cost of solar panel installation, you’re still saving money month to month.
Plus, keep in mind that you will receive federal tax incentives if you choose to go solar this year. Many states and cities offer additional incentives and you can participate in excess energy buy-back programs.
Don’t Let the Fear of Solar Panel Installation Cost Deter You
We often hear homeowners saying that they would go solar if it weren’t for upfront costs. The reality is that the solar panel installation cost is at an all-time low and solar companies have gotten wise to this deterrent. Now, you can go solar with no upfront costs and save money right away.
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