Solar power is now an established source of electricity in the US, with more than two million systems installed and counting. With the market steadily growing, it means that homeowners on the fence can worry less about getting maintenance and repairs done if they install a system.
Even so, much of the talk around solar panel systems revolves around the benefits, such as lower utility bills and small carbon footprints. Homeowners aren’t just worried about benefits. They must also make decisions based on the price of solar pane installation.
Are you wondering what you’re looking at in terms of average costs? Keep reading for a quick overview of the factors affecting cost and average prices.
One of the main factors affecting the average price of installing solar panels is the overall size of your system. The more electricity you want from your solar panels, the more of them you need. Since the panels make up a huge chunk of the price, bigger systems hit you harder in the wallet.
Home Solar Panel Types
Another key element in the total cost of your system is the type of panels you get. When buying solar panels, you’ll typically pick between monocrystalline, polycrystalline, and thin-film panels.
Monocrystalline panels are the best solar panels and provide the highest efficiency. They can also cost you up to twice as much as polycrystalline panels. Some people prefer thin-film panels, but they can cost as much as polycrystalline and offer much lower efficiency.
A lot of roofs lack the structural strength to support a roof-based installation. You can avoid that problem with a ground-based installation, but that can mean reduces performance or a serious landscaping effort in advance.
If you want a roof-based system, it can mean renovations to beef up the strength of your roof. Those kinds of renovations don’t typically show up in the average cost to install solar panels and push the price up quite a bit.
Average Solar Panel Installation Cost
The average homeowner cost for solar panel installation runs approximately $24,000. That number assumes a lot of things, such as average home size and average electricity usage. If you own a larger home or your electricity needs run high, you’ll need a costlier system.
For an accurate cost based on your home, electricity usage, and location, you should speak with a local solar company for a system estimate.
Solar Panels and You
Knowing the average cost for solar panel installation can help you get an idea of what you’re looking at financially, but it is just an average. It also doesn’t account for interest rates on financing or government rebates and incentives, which drive the overall costs up or down.
If you really want to know what a solar panel system will cost you, you will need estimates from local solar installers that include labor, renovation, and material estimates based on your home.
Looking for more home improvement tips? Check out some of the posts over in our Lifestyle section.