The Average Solar Panel Costs That Homeowners Should Know About Today

Did you know that the price of solar panels has decreased by over 80% in the last decade?

Solar panels used to be expensive but are now one of the easiest ways to supplement your energy usage and cut down your energy bills every month.

There are a variety of different solar energy systems for all types of homes. That’s why it’s important to look through the options to find the perfect system for your home.

Are you interested in learning more about solar panel costs? You’ve found the right blog. Here’s everything you need to know about the costs of installing and maintaining solar panels.

Different Kinds of Solar Systems

When it comes to installing solar panels in your home, there are a few options you can choose from. These different solar systems come in a variety of designs and sizes to fit your home’s energy needs perfectly.

The different solar systems can also range heavily in price with larger, more complex systems costing much more than the simpler, compact ones. Some types of solar panels are more efficient than others, making them more expensive to install as well.

Solar Incentives

To help make the cost of installing solar more accessible to smart homeowners, there have been quite a few solar rebates introduced. These financial incentives were designed to cut down on the initial installation costs so that more homeowners can embrace solar technology.

These incentives can range from city to city and state to state, so you should be sure to consult with industry professionals before making your final decision.

Solar Panel Costs Explained

The average cost to install solar panels in your home ranges from around $12,000 to $15,000. If you have a larger home and want a more complex system installed, there are systems available that cost more than $40,000 to install.

The cost of installing a solar system is often broken up into two parts. The first is the energy-generating unit and the second is the energy storage system. While the different kinds of solar panels can affect the price of the system, the size of the energy storage system is equally as important.

As a rough estimate, you can expect to pay around $200 to $250 per panel for a total combined system cost of around $1 per watt.

Solar Panel Costs

How Much Can You Save Every Month With Solar Panels?

Solar panels may not be able to get you off the grid completely, but they can make a massive dent in your monthly utility bills. Depending on your system and the size of your home, the amount saved can vary.

The average homeowner can expect to save over $1,500 a year by simply supplementing their energy bill.

The Future is Solar

Solar panels are the best and most efficient way to future-proof your home. While there are many solar panel costs to take into consideration, government incentives and decreasing prices have made it more affordable than ever before.

If you want to learn more about solar energy and the benefits of installing solar panels in your home, feel free to browse some of the other interesting articles on our website.

Also Read: How to remove yellow stains from the kitchen?

© Ruchi Verma

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Ruchi Verma

Certified parenting teen practitioner, multiple Award winner, mother of two active kids believes in sharing the right source of information to readers which could help them in every possible way!!

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6 Comments

  1. Harnessing the power of the sun is something we all would need to look at, sooner or later. Though solar panels have been around quite for some time now, the feasibility was always in question owing to the high costs involved. It is heartening to know that the costs have come down drastically over the years. One of our dreams is to have a house that is fully powered by solar energy.

  2. Shreemayee Chattopadhyay

    You know what some days back we were discussing about solar system installation in our home. And today I have come to know the details. I had no idea about the decrease of the price. Thanks for the information.

  3. Solar energy is free and one of the best ways to source homes. Once the installation is taken care of solar panels easily pay for themselves over a few years.

  4. I agree Solar panels are our future. Best way to conserve energy and reduce your electricity bill. It is a one time investment and take few years to recover that cost. But worth investing for.

  5. I agree the future is solar. And the amount you save with solar panels is huge. Considering our lifestyle, we are now addicted to ACs during the summers and the bills are way beyond our expectations. So it is important for everyone to save the amount via solar panels.

  6. Good to know that solar panels are now affordable and people can make the best use of renewable energy. Hope all the major industries take note of it and build infrastructure with solar panels.

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