Solar panels are starting to take the world by storm.
The solar industry has grown by 33% each year in the last decade alone. With more people becoming cognizant of their impact on the environment, the move to sustainable energy is a necessary one. That doesn’t mean it’s an easy decision for the average homeowner, however.
It’s the cost of solar panel installation that remains a sticking point for many people. Although they’ve come down a lot in price, the costs on paper still scare many would-be solar panel owners away. That being said, the cost isn’t exactly what it seems.
Today, we’re going to look at the cost of installing home solar panels, so keep reading, and you’ll see that there’s more than meets the eye with solar panel prices.
How Much is Solar Panel Installation?
It’s hard to say specifically how much your solar panels might be without knowing how many panels you need to power your home. On average, a full solar panel system costs anywhere from $15,000 to $25,000.
It can be significantly more or less depending on the materials you use and the installer rates as well – there are numerous different installation and solar panel options. Your best bet is to contact a few different installers for quotes to get a good idea of how much installation rates are in your area.
Why You Have to Dig Deeper
The thing about solar panel costs is that it’s only one part of the entire puzzle. When you choose to go solar, there are countless financial benefits in addition to the benefit of lowering your carbon footprint. You can find more here on the benefits of solar panels, but incentives and rebates are a major perk.
For solar panels installed between 2022 and 2032, you can claim a 30% tax credit on your federal taxes. 30% of the total cost of your solar installation comes back in the form of a reduction in your tax bills.
That’s just the federal credit. Many states and municipalities offer similar tax breaks. Some areas allow you to sell the excess power from your panels back to the grid and you can occasionally get rebates just for buying solar panels.
It’s important to do your research when buying solar panels. There’s a lot of money to save, which can drastically lower the total installation costs.
Thinking Long Term
Solar panels are a long-term investment. What you pay now, you get back over time while you use your solar panels. As long as you get a system large enough to cover your energy needs, you effectively eliminate your monthly electrical bills.
Combine this with the savings we just discussed above, and you can break even on your solar panels within a decade. After that, they’re just making you money.
Get Solar Panel Installation Today
Now that you understand a bit more about the cost of solar panel installation, you can make this important life decision. As panels come down in price and more people learn about the benefits of going solar, we’re sure to see the industry continue to grow rapidly. Be a part of this change and get your panels ASAP.
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