The number of US homes with solar panels has been increasing by an average of 32% every year. Part of the reason for this is that solar panel installations are getting more and more affordable.
If you want to install solar panels on your home, you need to plan your budget accordingly. Solar panel installations are now more affordable than ever, but you’ll still need to know what to expect from the costs.
Fortunately, we’re here to be your guide. In this article, we’ll tell you about the average cost for a solar panel installation.
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What Is the Cost to Install Solar Panels?
On average, solar panel installations cost between $15,000 and $25,000 before all tax credits and incentives have been applied. This amounts to $3 to $5 per watt of power.
While these are the average costs, however, it’s important to realize that your solar panel installation cost may differ from the average. You may pay more or less for your residential solar installation depending on a variety of different factors.
What Affects the Price of Solar Panels?
So what are the different factors that affect solar panel cost? Here are the main ones that you need to know about.
Your Installation Requirements
One of the main things that will affect the cost of your solar installation is your specific home needs.
You’ll need to think carefully about how much solar energy you’ll need when planning your installation. You should carefully consider the size of the system and the type of solar panels you buy.
Your Location
When predicting the cost of solar panels, you should also think about where you live. The state that you’re in can affect the price of your solar panels significantly.
Solar panels will be more costly in some states than others. In some states, however, it will be much easier to get a great solar panel installation at an affordable price.
Costs of Labor
The costs of labor will vary from state to state and will also vary based on the specific solar installation company you hire.
Remember that not all residential solar companies are the same.
Tax Incentives
One of the reasons that solar power installations are more affordable than ever is tax incentives.
The federal solar tax credit, for example, is available to everyone in the United States and can provide a value of 22% for your installation. However, there are also local and state tax incentives as well.
Depending on the state you live in, these tax credits could be significant and could help you save a good bit more on your installation.
Estimating the Cost for a Solar Panel Installation
If you want to upgrade your home with solar energy, be sure that you’ve considered the cost for a solar panel installation first. While installing residential solar panels is more affordable than ever, there are various factors that can affect the final price that you pay. While installing residential solar panels is more affordable than ever, there are various factors that can affect the final price that you pay.
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