Are you thinking of making the switch to solar power?
More and more Americans are going solar, but it still only accounts for 2% of the entire country’s electricity generation. There are lots of homeowners that would love to install home solar panels, but they’re put off by the installation costs.
In this post, we’re going to discuss the cost to install solar panels. There’s a lot that you need to consider beyond the installation costs, so keep reading, and we’ll get you equipped for residential solar panels.
How Much Are Solar Panels?
Most residential solar panel systems cost somewhere between $15,000 and $30,000. How much you end up paying is determined by the size of your home’s roof and the number of solar panels you need to cover your energy usage.
To get a better idea of how much panels will cost for your house, contact a local solar company and have them give you a quote.
Installation, Explained
Buying solar panels starts with you contacting a solar company. They’re going to ask for information about your house so that they can give you an accurate enough quote. Once you’ve ironed out the details, you’ll have to make sure your roof is sound enough to hold them.
As long as your house is up to snuff, you’ll need building permits. The solar company will then make a date for your installation, which will only take a day or two.
Looking at Incentives
To most people, a lump sum of $30,000 is a huge chunk of change. What’s important to understand about the cost of installing solar panels is the amount of money you can save through incentives and on your bills.
First, there are federal, state, and local incentives that you can take advantage of to lower the cost of going solar. The biggest one is the 26% federal investment tax credit, which you claim on your taxes. There are also similar state credits that differ depending on where you live.
You may also be able to sell your SRECs to local utility companies. These are certificates that you earn with each kilowatt of energy that your solar panel system produces. Since energy companies are required by law to generate some of their energy sustainably, they’ll purchase SRECs from solar panel owners.
All of this can take a huge chunk out of your solar panel costs. The other thing to think about is the amount of money you’re going to save over the years by negating your energy bills. Most solar panel systems pay for themselves in just a few years.
The Cost to Install Solar Panels Isn’t What You Think
Now that you have a better understanding of the cost to install solar panels, you can start seriously looking at them. Going solar is a great way to save money and an even better way to help the planet. As prices keep falling, more and more people will end up installing them and helping to heal the environment.
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