Installing Solar Panels In 2022? A Cost Breakdown For Homeowners

For many years, humans have been using non-renewable sources of energy such as coal in both commercial and residential setups. The continued usage of these sources of energy has led to their depletion. For this reason, there was a need to identify a renewable source of energy to power daily activities. Solar energy is one of the renewable energy sources you might consider to power your home operations. Ancient humans used solar energy to prepare their food products for preservation.

But in modern times, humans are using solar energy to power operations both in residential and commercial setups. You can harness and store solar energy to provide power for industries and homes thanks to technological advancement. Before installing a solar panel system to power your operations, ensure you understand the total cost. Although the cost of installing solar panels has dropped significantly in the last few years, its upfront cost is still high.

The following article discusses what you need to know about solar panels installation. You'll learn the benefits of installing solar panels, the cost, and much more. Read on.

What Are The Benefits Of Installing Solar Panels?

Solar panels have become one of the most sought-after products in recent years. Most homeowners are now considering switching to solar energy to power their home's operations. The popularity is mainly fueled by the benefits of using solar energy to power daily activities. Some of the benefits of installing solar panels include:

• Reduces Air Pollution

More and more individuals are discovering the need to conserve the environment in recent years. Non-renewable sources of energy such as fossil fuels may produce lots of pollutants. This will negatively affect the environment, your health, and your loved ones'. On the other hand, solar panel systems produce clean energy with little or no pollutants, reducing air pollution.

• Reduces Electricity Bills

When using electricity from a grid system, you'll be expected to pay a monthly energy bill. On the other hand, the only cost you'll incur is when you're installing your solar panels. While it might be costly to install solar panels, it'll reduce your monthly energy bills in the long run. Also, you can sell excess energy to your local electricity distributor, improving your revenue.

But it’d be best if you understood that where you'll purchase your solar panels may influence their efficiency in improving your daily life. There have been several solar installers you can choose from in recent years. You can consider visiting a solar company Miami or any other reputable installer in your locality. However, it's vital to conduct extensive research to gauge whether the company will meet your needs and expectations.

• Increased Home Value

Due to increased demand for solar energy, most new homeowners may prefer to purchase a home with an already installed solar panel system. Thus, installing a solar panel system will go a long way in improving your home's resale value.

What's The Cost Of Installing Solar Panels?

Cost is one of the factors you should consider when installing your solar panel system. There’s no definite cost for installing a solar system for your home use. Several factors may influence your overall cost. They include:

1. Cost of License

Each locality will have distinct rules and regulations surrounding the installation of solar panels. Before you start the installation process, you may be required to pay some money to your local administration office to get the certification. Thus, it's vital to visit the local office to understand the rules and regulations and the associated costs.

Also, the solar panel installer should be licensed to conduct the installation. In some areas, obtaining certification may be complicated and require the contractor to pay more or spend more time than usual getting the license. In such a case, the contractor may charge you more to cater to the complicated regulatory process.

2. System Size Needs

This is another factor that may influence the cost of solar system installation. The size of your system may depend on your average energy needs. This will help determine the number of solar panels you need for your systems, affecting the average installation cost. You can use previous utility bills, available mounting space, and the amount of sunlight in your area to determine the approximate number of solar panels you need. It's advisable to visit the local installer to get an accurate number of solar panels.

The installer will use accurate methods to determine your energy needs, such as irradiance maps. Through this, you can accurately determine the size of your system. You should understand the larger the system, the more it'll cost you.

3. Type of Solar Panels

There are three most common solar panels to choose from for your home installation. They include monocrystalline, polycrystalline, and thin-film solar panels. The type of solar panel you choose may influence your total installation cost. Monocrystalline solar panels are considered energy-efficient, but they might have a higher cost than other types. Due to high energy efficiency, monocrystalline solar panels may be smaller than polycrystalline solar types, thus, reducing your overall array. On the other hand, thin-film panels may cost less than crystalline ones but have lower energy efficiency and shelf life.

Conduct extensive research to develop a deeper insight into the solar industry and ensure you purchase your panels from a reputable supplier, giving the value of your hard-earned buck. Visit more than one supplier to understand the average price of solar panels in your locality.

4. Tax Incentives

The tax incentive may influence your overall cost of installing solar panels and associated equipment. The tax incentives are supposed to encourage homeowners to purchase and install solar panels. Currently, there’s a 26% federal solar tax credit available to homeowners who will purchase and install solar systems between 2020 and 2022.

The tax incentives may include sales tax exemption and credits, helping to reduce the total cost of solar panel installation. Make an effort to visit your local administration to understand more about tax incentives.

5. Location

Where you reside may influence the cost of installing solar panel systems. The cost may vary from one locality to another.  Availability of materials and technology is one factor that may lead to changes in cost depending on the location. Knowing the average cost of solar panel installation will save you from paying more for basic solar systems.

Bottom Line

Solar energy is one of the best alternative sources of energy you can use to power your daily operations. The cost of installing your solar panel system may vary from supplier to supplier and location to location. For this reason, it's crucial to conduct extensive research to ensure you get the best deal on the market.