Solar Resources
How Much Do Solar Panels Cost?
Homeowners thinking of making the switch to solar power often have many questions. One of the most common is, of course, how much their new solar energy system will cost them. So, how much do solar panels cost? Unfortunately, it’s also a question that has no one-size-fits-all answer. The only way to get an accurate estimate of how much your new solar power system will cost you is to sit down for a consultation with a solar power consultant. Here are some of the points they will take into account when giving you their estimate:
Location
Your location is highly relevant when it comes to the cost of your solar panels. The general price of electricity in your area is an important factor, as is your local climate. Homeowners in areas where it is sunny more often will need fewer panels to power their homes than those in typically very rainy or overcast regions. Local tax incentives also differ by state and will have a major impact on the amount you ultimately pay for your system.
Your Energy Needs
Everyone’s household energy needs are different. Homeowners that have gas appliances will need less power than those who only have electric appliances. Some homeowners have electric vehicles they need charged. The higher your energy needs, the more solar panels you’ll need to fully cover them, and the more your system will cost.
Type and Quality of Panels
Different kinds of panels offer different levels of energy efficiency. More efficient systems, while more costly, will produce more energy with fewer panels. This may be an important point of consideration for homes with limited roof space. Identifying your energy needs is key to figuring out what kind of solar panel is right for you.
Tax Incentives
Federal and state tax incentives can bring down the cost of your solar panels and save you thousands of dollars. Because the tax incentives change from time to time and state to state, it’s important to stay up to date and research current tax incentives in your area.
Financing
The way you finance your system affects your final purchase price. Solar power systems are commonly available for lease, loan, or up-front purchase. Paying off your system in one lump sum will save you money on interest and lead to a lower final purchase price.
Summary
Solar systems are specific to the home they’re designed to power. Due to the number of factors that need to be considered when calculating the price of your unique system, we are unable to provide homeowners with an estimate without evaluating their needs and the suitability of their house. Sitting down with one of our reps for a consultation and design will leave you with an accurate quote on your new solar power system.