Did you know the average cost of solar panel installation has dropped by 89% since 2010?
Once upon a time, going solar was only something you could do if you were among the wealthy elite, but that is not the case anymore. The cost of going solar has dropped significantly and will continue to drop as the years go on.
Wondering what the actual price of going solar is? Keep reading. We’ll do our best to break it down for you.
Types of Solar Panels
When installing home solar panels, you need to take the type of system you want into account. You can get three main types of systems with residential solar panels: the grid-tie, grid-tie with batteries, and off-grid.
Each of these systems has a different amount of reliance on the existing electrical grid. If you have a grid-tie system, you’ll still have access to the electricity grid, and you’ll use your solar panels to save on your electricity bills.
Grid-tie with battery back-up means you’ll likely want to store power for potential blackouts. An off-grid system is how it sounds; you won’t be on the utility grid and will supply all of the power to your home through alternate means.
All of these systems have pros and cons and come with different price tags. Identify what your electricity usage goals are and figure out your needs from there.
Figure Out How Much You’ll Save
Installing solar panels can be a way to cover all of your electricity needs or supplement what you already have. Before mapping out your new system, take stock of how much electricity you use in a month. Once you know how much electricity you use, you can speak with your solar panel installation specialists to estimate how many panels you’ll need.
Search Out Incentives in Your Area
Buying solar panels means you automatically qualify for a federal tax credit. This means you will get back a percentage of what you put into your solar system.
There may also be state-level incentives, like net-metering, so do some research to find out just how much you could get back. Incentives can bring down the overall cost quite a bit.
Determine the Cost of the Installation
Due to the range of sizes, the best solar panels are determined by their cost per watt. If you are searching out the lowest price per watt power output, you will be looking at less space-efficient panels.
Chat with your solar installers to discuss the cost of installing these panels and how much of your property you will need to adjust or change before their installation. If you need to update your roof or clear a bunch of land, it’s best to know about these costs upfront.
Now You Know What to Consider When Determining Solar Panel Installation Cost
The cost of solar panel installation is no longer out of reach for many people. Do some calculations and figure out if the switch is best for you! If you have always dreamed about going solar, now might be the time.
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