Solar Panel Cost Points

In this fantastic article, we will attempt to help you figure out how much it would cost to go solar.  There are a lot of complexities to buying solar panels, but equally, there are benefits.  

The standard solar installer does not make the price of solar easy to find online. This is unfavorable, as more homeowners would go solar if they knew how much they could save over the long term. The average homeowner would save at least $25,000 over 25 years by investing in a solar panel system.

So what is the modern low-end cost of residential solar power? As of 2017, it’s approximately $3.00 per watt, installed. The average sized solar panel system is 5,000 watts, so this brings the total price to $15,000. That 15k figure is just an average sum. Systems can cost more or less mostly depending upon a homeowner’s energy usage.

Summarized Solar Cost 

Pre Tax Incentive Cost As low as $3.00 per watt. Average total cost – $15,000. 8 cents per kilowatt-hour. $159/mo for a $15,000 ten year loan at 5% interest.

Solar pricing is significantly lower taking into account the 30 percent solar Investment Tax Credit. Here’s the pricing accounting for the tax credit –

Post Tax Incentive Cost As low as $2.00 per watt.
Average total cost – $10,500. 6 cents per kilowatt-hour.
$111/mo for a $10,500 ten year loan at 5% interest.

That $3.00 per watt is, again, on the low side for the average installer. According to the Solar Energy Industries Association, the reasonable price for a residential system is “just above $3.50/watt.” Pricing can vary due to a particular brand of panels used, inverter brand, and regional pricing differences. Most installers can deliver sub $4.00/watt pricing. Some are now installing for less than $3.00/watt, though this pricing is not widely available yet. Marketing and other “soft costs” have checked many installers from offering even lower prices for their solar installation services.

There is still a federal tax credit, and many states have incentives that will bring this price down a few thousand. Plenty of no money down financing options are also possible. An average non-financed system payback period is about 5-8 years.

Save Money

What is the expense from a payment point of view? Monthly payments on a ten-year solar loan are about the same as what the average homeowner pays for a typical utility bill, sometimes less. Of course, after the loan is paid off, you’ll get to profit from free solar power.

Curious about solar hard costs vs. soft costs near you, and how that might affect your own solar panel pricing? We here at HahaSmart you will have a look at what we can offer you on the cost of solar panels and cost of solar installations. We will strive to find you the best prices available. Follow the solar experts. Try our price checker tool. It tells you how much solar power you need and how much you can save on your energy bills each month. Please visit our solar blog to find out more about the benefits of going solar.

The price on solar panels includes the cost of the Installation of solar panels and the solar panels price. How much do solar panels cost? A Solar panel installer always includes prices solar panels