Getting A Solar Panel System

Be sure to focus on the important aspects of your purchase as it s a substantial investment and one you ll be living with for a long time.

Getting a solar panel system.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. For example if you live in new mexico you average six peak sunlight hours per day. There are several possible scenarios. The price of solar has dropped by an incredible amount.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied. Today it s around 0 13 per watt or about 600 times less. Then divide the kw output by your panel s efficiency to get the estimated number of solar panels you ll need for your system.

The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. Buying a home solar power system can be a very exciting experience but don t get too carried away by advertising. Daily kwh average sun hours x 1 15 efficiency factor dc solar system size. Integrated hardware and simple design achieve this by securing the panels close to your roof and to each other for a minimal aesthetic.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. As of 2019 the typical solar panel system costs 12 810 after tax credits. Our solar panels are low profile and durable quietly converting sunlight to energy for decades to come.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. Check to see if your state offers tax and non tax incentives including rebate loan and grant programs. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Getting started with solar system sizing.

Not all states offer tax credits to homeowners for installing solar panels.