How much does a solar power system cost
Althoughis now more cost-effective than ever, it’s crucial to understand how household solar systems function and what the typical price parameters are for equipment and ongoing maintenance. Being prepared with this knowledge may assist you to avoid spending too much on your panels.
What is the cost of?
Whiles may lower your total expenditure on energy throughout your lifetime, there are still substantial upfront fees to consider. The average cost of installing solar panels is $3.05 per watt. With the average system size weighing in at 6 kilowatts, this implies that the average solar panel system cost in the U.S. is roughly $12,810 after tax credits are applied.
The cost of panels only continues to reduce as the technology gets more sophisticated and cheaper to manufacture. Additionally, the federal solar tax credit (ITC) deducts up to 30 percent from the entire cost. This makes solar panels far more inexpensive than they have ever been previously.
Factors impacting solar power system
Various variables might impact the cost of a solar power system.
Photovoltaic panels — those generally used in household solar systems — can collect direct and indirect sunlight so that solar electricity may be harvested essentially anyplace in the United States. Most solar businesses will install monocrystalline panels, whose photovoltaic cells absorb the most energy and may thus optimize sunshine exposure, no matter where you reside.
However, there are several states that, on average, receive the most sunshine year-round, according to the World Population Review:
- New Mexico
Not surprisingly, several states on the above list also top the SEIA’s list of top cumulative solar electric capacity, including Arizona, Texas, California, Nevada, and Florida. But those states that have the most solar panel systems — North Carolina, New Jersey, Massachusetts, and New York, among them — are not always the sunniest.
The layout and age of your roof might impact the amount you can anticipate spending for panels, as well as your return on investment. Solar panels create the highest energy output on sloped roofs that provide for optimal sun exposure to photovoltaic solar cells. Flat roofs necessitate the building of angled platforms, which will add to your labor expenses and raise the entire cost of your solar system installation.
Your roof’s age and structural soundness are also crucial considerations in solar panel pricing. If roof repairs or a new roof material is required to support panels, each will come at an extra fee ahead of installation and affect your final cost.
The average cost of one solar panel lands anywhere between $200 to $300. Professional installers have established relationships with their suppliers and can purchase panels in bulk. Solar panels may require an upfront investment, but they can save you money over the course of your lifetime by cutting the cost of your electric bill.