Solar power is more affordable, prevalent, and accessible in the United States than ever before. As the cost of electricity from traditional sources rises, more homeowners are looking to make the switch by buying solar panels.
Solar energy is better for the environment and your wallet, but how much do solar panels cost? There’s a handful of key factors to consider before you make the investment.
This guide will explore the different elements that affect solar panel prices so you can see if it’s the right option for you.
Ready to learn more? Let’s get started.
Location
Where you live is a huge factor in determining the cost of solar panels. The less sunlight your home gets, the more panels you’ll need, which means you’ll be paying more. Sunny locations have a greater advantage when it comes to solar panels.
There are also a variety of local and state tax incentives and solar rebates that help lower costs.
Types of Solar Panels
There are different types of solar panels available, and the one you choose affects the cost. The four options include grid-tie, grid-tie solar, energy storage, and off-grid solar.
What’s the difference between all of them?
Energy storage and grid-tie solar are great options for having backup power if there’s an outage. Grid-tie panels have access to the utility grid and help you save money on your electric bill. Off-grid solar doesn’t have access to a utility grid, and it’s for people who want to live in an inaccessible area.
If that’s intimidating, you can check out altairsolar.com. Not only are they the ideal solar panel installation company, but they can answer any of your questions. Identify your goals when it comes to solar energy, and this will help guide your decision.
Solar System Size
One of the biggest factors that affect the cost of your solar panel system is size. This is measured in kilowatts, and it tells you the maximum amount of power that the solar panels will deliver under perfect conditions.
The size of home solar panels you’ll need depends on how much you want to reduce your electric bill and the amount of electricity your home uses. The more energy your home uses, the bigger the system will be to cover the electric bill.
For a 2,000 square foot home, the average cost of a residential solar panel installation ranges between $18,000 and $20,000 before applying incentives and tax credits.
How Much Do Solar Panels Cost?
The cost of solar panels continues to decrease, and there are plenty of solar incentives for those who make the leap. It’s no wonder people are making the switch in record numbers.
Not only will your energy bills decrease, but you’ll feel good about powering your home with renewable energy. The initial investment may seem daunting, but you’ll end up saving money in the long run.
Looking for more helpful articles like this? Be sure to check out the Consumer Resources section of our blog!