Did you know that the cost of installing solar panels in your home has decreased by over 80%?
While solar panels used to be an expensive accessory to have in the home, new innovations and government incentives have managed to make solar energy more accessible than ever before.
However, solar panels come in various shapes and sizes. This means that the cost to install a solar energy system in your home can vary depending on the size of your home and the type of panels you want to install.
Looking for a comprehensive guide on solar panel installation costs? You’ve found the right blog. Here’s everything you need to know.
How Much Do Solar Panels Cost?
When it comes to solar panels, there are varying costs to consider. This is because the total cost depends heavily on the size of your home, how many solar panels you want, and what kind of solar panels you want to install in your home.
Modern technologies have helped decrease the cost of solar panels, with new manufacturing techniques allowing companies to make more efficient panels at a fraction of the cost. This helped reduce the cost of production, but government incentive programs helped over 2 million homes in the United States make the switch to solar energy.
There are both federal and local incentives designed to encourage homeowners to make the switch to solar energy. These incentives can vary depending on where you live, so it’s important to do your research to see if you qualify for any discounts before making the investment.
Different Kinds of Solar Panels
As mentioned above, there are a few different kinds of solar panels available. These different kinds of panels can radically change the total cost of the entire system. Here’s a quick breakdown of the different kinds of solar panels along with how much they cost on average.
Thin-Film Solar Panels
Thin-film solar panels are made to be slim and flexible panels that can seamlessly fit any home. These panels are more on the pricey side, with panels costing around $1 to $1.50 per watt. This means that a 6kW panel will cost you around $7,500.
Monocrystalline Solar Panels
Monocrystalline solar panels are the most efficient kind of solar panel on the market. This is due to the fact that it’s made from a single, pure, silicon crystal. These panels can cost anywhere from $1 to $1.50 per watt, meaning that an average 6kW solar panel system can cost around $7,500.
Polycrystalline Solar Panels
Polycrystalline solar panels are made from silicon crystals but are less efficient than monocrystalline panels. This makes these panels cost between $0.90 to $1 per watt. This makes a 6kW system cost around $5,700.
These panels are the most affordable option and are the most popular around the world. While they are less efficient than monocrystalline panels, they are perfect for residential homes.
Solar Panel Installation Costs
Another factor to consider is how much it costs to install solar panels in your home. Whether you want to install solar panels around your property or directly on your roof, these costs can vary depending on the difficulty associated with the installation process.
These costs are generally quoted once a professional installer gets the chance to visit your home. During this visit, solar installers will look around your home and recommend the right solar package for your home’s needs. They will know the perfect-sized solar panels to install along with where they should install them for maximum efficiency.
Despite installation costs varying from home to home, the national average ranges from around $15,000 to $20,000. However, some solar companies offer discounts when you buy your solar panels from them as well.
How Much Can You Save With Solar?
Solar panels are a great way to reduce your carbon footprint at home. However, there are financial benefits from switching to solar as well. These financial benefits come by reducing your reliance on the exterior grid.
In simple terms, solar panels allow you to use less energy from the grid therefore reducing your energy bill every month. While the actual amount you can save depends on the kind of system you have installed at home, the average household can save over $100 every month. For a more accurate comparison, you can check out texas electricity rate comparisons.
There are also other solar devices you can use throughout your home to further reduce your energy bill every month. This includes solar lights that you can use around your backyard. These lights come with built-in solar panels, allowing them to charge during the day to shine brightly throughout the night.
This is why it’s beneficial to include a battery pack within your home’s solar system. This battery back can help keep you off the grid even when the sun is down.
Can Solar Panels Increase Your Property Value?
Solar panels can save you money every month through reduced energy bills. This makes homes with solar panels more attractive to prospective buyers. In some cases, potential buyers actively look for homes with solar panels already installed.
Consider Installing Solar Panels in Your Home
The cost of installing solar panels in your home has decreased by over 80% since 2010. This, along with local and federal incentives, has made solar panels more accessible than ever before.
While many may think of solar energy being an expense, it’s actually an investment that can increase your property value and save you money every month at the same time.
If you enjoyed this article and want to learn more about solar power, feel free to look through our website for more interesting articles.