In 2020, solar energy only provided 2.3% of total US electricity.
But while solar energy still only provides a small amount of energy to US houses, it’s one of the easiest ways to lower your electricity bill. Not to mention, it will also help reduce carbon dioxide emissions from traditional energy sources.
Well then, how much do solar panels cost? Keep reading this article! It will break down the costs of installing solar panels at your home.
Real Talk: How Much Do Solar Panels Cost?
With the rising demand for solar power and the advancement of technology, solar panels continue to lower in price. It’s great for consumers and the planet.
Home solar panels come in two main varieties. They are polycrystalline and monocrystalline. Within these varieties, there are also several subcategories, such as amorphous silicon and cadmium telluride.
The different models and brands vary by efficiency, warranties, appearance, and quality. But, it’s not the types of solar panels that affect the price so much. Their prices are all comparable to each other.
Additionally, the government helps offset some of the costs by providing a tax credit. In 2020-2022 the government offers a 26% tax credit. In 2023, the tax credit will be 23%.
The process of installation is what makes the price fluctuate.
Solar Panel Installation
First, you need to consider how many panels you need to meet your demand. Are you looking to offset some of your electrical usage or all of it? Your system size will change the total cost.
Where will you put the solar panels? In the yard or on the roof? If you go for solar panel roof mounting, you will need to make sure your roof is sound enough. This may lead you to spend more money to strengthen your roof before installing solar panels.
You must also consider labor costs. Labor wages vary by state-to-state. You will want to get a quote from a local solar panel company to know the general cost of labor.
Finally, you also need to secure solar panel permits and pay interconnection fees. The permit and fees allow you to install the solar panels and connect them to the electrical grid.
So really, “How Much Do Solar Panels Cost?”
Most solar panel specialists say solar panel installation costs between $10,000 and $25,000 after the government tax credit. But, to get an accurate estimate for your home, it’s best to contact a local professional.
Depending on your situation, the amount of time to see your investment pay off can take several years. Yet, some homeowners can give electricity back to the grid over time because they create more than they need. Thus, they receive payment from the electric company.
Consider Solar Panels For Your Home
Now that you know the answer to the question, “How much do solar panels cost?” you can feel confident requesting a quote from solar panel installation experts in your area. Don’t let the cost surprise you, and know that it’s an excellent investment.
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