Solar Panel Pricing: What Can You Expect to Pay for Installation?

Are you planning to get solar panels installed in your home?

People are always looking for more ways to become more energy-efficient. A great way to cut your electricity bill is to invest in a solar panel system. Solar panels are a huge investment, but they can be more cost-effective in the long run.

However, the initial price can deter some people from getting a solar panel system. Are you committed to getting a solar panel installed in your home? Here’s what you need to know.

This article covers solar panel pricing and what to expect upon installation. Read on to discover more about installing solar panels.

Your Regular Electric Bill

Before buying a solar panel system, determine your monthly electric bill costs. A solar panel system generates electricity from the sun, allowing you to cut down your bills. Some solar panel systems can even eliminate your electric bill.

Switching to a solar system can benefit you more if you have a higher electric bill. However, some variables like the electricity rates and usage are volatile. These are the main charges on your statement.

You may not be able to save as much when a utility’s electricity price goes down. If your consumption rate changes, so could your amount of savings.

Sunlight Exposure

Your amount of savings may depend on your location. Some states like California and Arizona receive more sunlight than other locations. Determine how much sun your state receives to identify how much you can save.

You may also consider your home’s orientation toward the sun. Your home’s roof type and the amount of shade in your area could also affect your solar system’s output.

Residential Solar Panels Costs

The brunt of your solar panel pricing will depend on the solar panel system itself. Take the time to research which solar panels would be best for your home. There are plenty of solar panels that require only minimal long-term expenses.

Many solar panel systems need only minimal maintenance. A good brand will last you 20 years or more, depending on how much electricity you consume. When looking for a solar panel brand online, check the company’s credentials.

It would also be best to look at reviews to determine if you’re making the right choice. Ensure that your chosen brand offers a warranty in case of untoward incidents. Another factor to consider when choosing solar panels is how big a system you need.

Determine how much energy you consume in a month based on your monthly utility bill. Use this as a basis to find a solar panel system that can generate the amount of energy you need. An average 5kW solar panel system’s cost can range between $15,000 to $25,000.

This solar panel system covers between $3-5 per watt. This price does not include any incentives or tax credits.

Trade Policies and Incentives

Your government’s trade policy could affect solar panel pricing. Former President Trump imposed a four-year tariff in January 2018. This resulted in a 16 cent price increase per watt.

To give you an idea, an average 6kW solar system price increased by $960. Imported solar panels may still drop in price. However, it’s best to check your government’s trade policies to check how much you can expect to pay for solar.

It would also help to check government incentives. Some states offer homeowners incentives for transitioning to a solar panel system. The federal tax benefit may be non-refundable, but you may still save on taxes.

You may receive added incentives like tax exemption, expedited permits, and cashback. Depending on your state, additional credits can vary. Some states allow people to sell excess power to utility companies in their locale.

Solar Panel Installation

Once you’ve decided on your equipment, it’s time to install your solar panel system. Here’s how it works.

Inspecting the Property

Contact a solar installation engineer or company to inspect your home. They will ensure that your home can support the weight of a solar panel. They may also inspect your electrical panel or circuit breaker.

If your home’s structure can support a solar panel, the engineer will give out forms to sign.

Signing the Paperwork

Your provider will handle the complex paperwork, like rebates and tax incentives. They will also cover forms like solar renewable energy certificates. However, it’s crucial to know where your forms are getting filed.

Your provider must be aware of local building restrictions. They may need to get permits approved. Often, they will also fill out the paperwork for you.

It may help to familiarize yourself with restrictions and permits to avoid the hassle. After filing the necessary forms, you can sign an official contract. Your solar panel installer will add you to their queue of clients.

Installation and Labor

Installing a solar panel system will only take up to a few days. Your provider will prepare your home’s roof to ensure everything is in place. This ensures that everything remains intact for the solar panel installation.

Your provider will then install the necessary electrical wiring. This is what will connect your solar equipment to the power system. Next, your installer or engineer will attach racking to your roof to support the panels.

These panels go on top of the racking. Finally, your provider will install the inverters. This component, connected to the panels, will convert solar energy into usable electricity.

Looking for a home solar installation provider in South Carolina? Check out Blue Raven Solar to start transitioning to a solar panel system.

What to Expect From Solar Panel Pricing

Looking to transition into a more energy-efficient lifestyle? Now you know everything you need to know about solar panel pricing. Getting a solar panel system can help you cut down your electricity bills and save you from expensive monthly costs.

It can also increase your home’s value. However, a solar panel system is only one way to enhance your home’s function and value. For more real estate tips, check out our other blog posts!