By Joe Magro, Managing Member, Tarpon Solar
Solar panels are a great way to save money on your energy bills and reduce your carbon footprint. But how much do they cost?
The cost of solar panels varies depending on a number of factors, including the size of your system, the type of panels you choose, and the installer you hire. However, in general, solar power systems cost between $15,000 and $50,000.
The cost of solar panels has been declining in recent years, and has recently leveled out at an affordable cost for most homeowners, where the cost of the system is less than the cost of buying power as normal from the utility. This is due to a number of factors, including the increasing efficiency of solar panels and the declining cost of solar cells, along with the steady price increases from the power utilities.
There are a number of ways to save money on the cost of solar panels. One way is to take advantage of government incentives, such as the federal solar tax credit. The federal solar tax credit is worth 30% of the cost of your solar system, and it can save you thousands of dollars. Sometimes, homeowners and business owners can get an additional 10% when they buy American made panels, too!
Another way to save money on solar panels is to finance your system. Although cash purchase is an option for some people, most families choose to finance their system through a loan or a lease. There are a number of solar financing options available, and some of them offer very low interest rates that lead to a monthly payment that is less than what they pay currently for power from their utility.
If you are considering solar panels, it is important to get quotes from more than one installer, like we do for you here at Tarpon Solar. This will help you to ensure that you are getting the best possible price. We promote solar direct to homeowners, to offer it at close to wholesale pricing in order to save you thousands versus the retail price.
Here are some additional factors that can affect the cost of solar panels:
- The size of your system: the larger your system, the more it will cost.
- The type of panels you choose: different types of solar panels have different costs.
- The installer you hire: the cost of installation can vary depending on the installer you hire.
- Your location: the cost of solar panels can vary depending on your location.
Here are some tips for saving money on solar panels:
- Get quotes from several different installers or work with a broker like Tarpon Solar who can find you the best offering.
- Take advantage of government incentives.
- Finance your system.
- Choose the right size system for your needs.
- Choose the right type of panels for your location.
I hope this blog post has helped you to understand the cost of solar panels. If you have any further questions, please do not hesitate to contact me.
joe@tarponsolar.com
Reference:
- What Do Solar Panels Cost?: https://www.nerdwallet.com/article/finance/solar-panel-cost
