How Much Does It Cost To Install Solar Panels? (Homeowners’ Guide)

When it comes to solar panel installation the main concern from homeowners is the price. It’s no secret that solar panels can be quite costly, but one thing to remember is that it’s an investment that can save you money in the long run and it will help with your environmental impact as well. 

If you’re worried about the cost of solar panels from a solar panel installer then you’re in the right place because we are about to discuss how much solar panels cost, what factors go into the cost, and anything else you’d need to know about hiring the best solar company for you.

How Much Do Solar Panels Cost?

Answering this question is actually a bit more difficult than you might imagine because the price can vary quite a bit. There are a lot of factors that will go into the full pricing of your solar panels and you also have to account for rebates or tax credits as well. 

With that being said, the price can fluctuate based on the size of your panel lot and your state, but on average in the United States, a homeowner can expect to pay about $12,000 for solar panel installation. Again, this will vary a lot based on your state, amount of panels needed for your property, and many other aspects. 

$12,000 is only an average, but realistically solar panels can range from $5,000 to $20,000 depending on all of these factors. If you’re looking for a more specific price then you’ll need to contact a solar panel installation company in order to get an estimate for your property size and state. 

What Factors Go Into Solar Panel Price? 

As we stated there are many factors that go into the price of your solar panel installation. These factors vary and can affect your full price, as well as the installation itself. Let’s go into the details on what factors go into solar panel installation price. 

Number of Solar Panels & Area Covered

The amount of solar panels needed is one of the biggest factors that go into your solar panel price. The more solar panels are needed to power your home, the more expensive. As most solar panels are priced by the panel or square footage of the land/roof covered. 

With that being said, remember the more solar panels you buy, the lower your energy bill will be each month. It’s just a pricey initial investment but will save in the long run. 

Type of Panels 

There are two main types of panels which are crystalline and thin film solar panels. These two are differently priced and within those two types, there are low-end and high-end panels. Just like anything else, the pricing will vary for all of these types as well, so choosing your panels wisely is essential. 

Installation 

The ease of installation can fluctuate the price as well. Some homes are harder to build panels on than others, and the labor or manpower to get them installed will cost more if it’s difficult. Essentially an angled roof or a roof with skylights might have a more difficult time getting the panels placed safely and properly onto the roof by a solar panel installer. 

Ways To Save Money When Going Solar 

Since we’ve discussed the pricing of solar panels, it’s great to be able to save a little bit of money on these as they are definitely a bit pricey. Obviously, solar panels are large, there are electrical parts to consider, and so much more which make them an expensive piece of equipment. 

With that being said, there are a couple of different ways that you can save a bit of money on your initial solar panel investment. Let’s dive into these two ways you can save money when going solar. 

Incentives

Each state and country will have its own solar incentives. You can check out this website here in order to see specifics for tax credits and other rebates for your state. Solar incentives are the most known type of incentives and these include state-specific tax credits, rebates, and the federal tax credit. These incentives can help you save thousands on your solar panel installation. Be sure to apply for all of the incentives to ensure that you have the best opportunity of saving. 

Loans 

There are loans or payment plans available with some solar panel companies. These loans can help low-income families pay for solar panel installation which can help save money on your energy bill for years to come. Payment plans can also be available through certain solar panel companies. Be sure to contact your company in order to discuss financing or loan options. 

Final Thoughts On Solar Panel Installation 

When it comes to solar panel installation it can be quite expensive, but overall it is a great option for saving money on your energy bill and also helping the environment. The average cost for solar panel installation is about $12,000 but remember that many different factors affect the price of the installation. Be sure to get an accurate quote for your specific solar panel installation to get a better idea of the cost, and always take advantage of the incentives available to you.