What is the cost of solar panels?

What is the cost of solar panels?

Here at PowerScout, we are often asked how much it will cost to install solar panels on the roof of a home or business. The answer depends on how many solar panels are required to meet your unique electricity needs. Higher electric bills require a bigger solar power system with more panels, and will cost more than a smaller system.

The amount of solar panels you need is a function of two things:how much electricity your household consumes and how much electricity a solar panel on your roof can produce.

A typical household in the United States consumes about 720 kWh per month, but this can vary widely depending upon your consumption habit. If you use a Jacuzzi tub, have bigger appliances, use computers for an extensive period of time, have many flat screen TVs, etc., then your home’s usage will likely be higher than average. Your usage will also go up in months you use your AC unit.

The amount of electricity that a solar panel produces depends on how much sun your region gets, whether your roof faces the sun and if there is shading on the roof from nearby trees or other obstructions. This can vary widely from house to house even in the same neighborhood. In general, we see homeowners that adopt solar require about 6 kW to 7 kW system. This can cost between $20,000 to $25,000, before any incentives are taken into account. The federal government offers a 30% tax credit on the cost of the solar system which means your true cost is only 70% of the sticker price. Moreover, some states and cities offer additional incentives that make the net cost even lower.

Rather than focus only on the cost of the solar panels, we encourage our customers to think about the cost of the solar power in relation to the benefits they get from adopting solar. The benefits from solar can vary by a number of factors, such as how much your utility charges you for energy, how much the utilities are increasing the cost of electricity year-on-year, available solar incentives in your region and the cost of the solar panels themselves.

To make this cost-benefit analysis easy to understand, we created a simple-to-use Solar Calculator that takes into account more than 2,000 data points to provide you a simple answer: How much will I save by adopting solar? We analyze satellite imagery to understand your roof, your utility’s electric rates, your electricity consumption needs and the cost of the solar system in your area to answer this. We do this so that you don’t have to be a math whiz to know if solar is right for you.

Are you ready to start saving money? Check out PowerScout’s Solar Calculator and let us help you turn your roof into a power plant that will save you money for decades to come.

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