How Much Will Solar Panels Cost To Install On Your Specific Home In 2021
The cost to install solar panels on your specific home in September 2021 will vary depending on your location, your energy usage, the brands of equipment chosen, and whether it is a DIY installation or a job done by a professional solar company.
Since more than 95% of homeowners choose to go with a reputable local solar company, our solar calculator below shows estimates for professionally-installed systems in your area.
*Based on 350-watt panels
Cost To Add Solar Panels To An Existing System
The cost of adding solar panels to an existing system is around the same as a new installation – about $2.50 to $3.50 a watt installed. The key is whether you can expand the existing system. Typically, roof-mount systems cannot be expanded much. Ground systems can be expanded if you have the space. This is a common situation in off-grid setups or when switching from grid-tied to off-grid. In these cases, you need to expand your system.
A 6kW or 8kW grid-tied system on most homes is not easily expanded because it will already take up most of the available space on the roof.
In some instances, you may be able to upgrade your existing panels to those with higher wattage. This has a cost closer to $3.50 a watt because these panels cost more.
Consider Solar Panels For Your Home
Now that you know the answer to the question, How much do solar panels cost? you can feel confident requesting a quote from solar panel installation experts in your area. Dont let the cost surprise you, and know that its an excellent investment.
If you found this article helpful, make sure to check out more in the Tech and Home Improvement sections.
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How Much Does Going Solar Cost
The cost of installing solar panels has decreased dramatically in the past couple of years. These days, solar panels cost $0.70 to $1.50 per watt. It used to be around $2.10 and more just a few years ago. This reduction in price has made solar power incredibly affordable!
Unfortunately, the initial cost of installing solar panels on the roof of a house can range from $15,000 to $20,000. However, it is definitely worth it, as you will get to save money on your utility bills, as well as increase the price of your house.
How Does Sunlight Amount Affect Solar Panels
Different areas of the United States receive more or less sunlight compared to other areas. The amount of sunlight you receive directly correlates with how many solar panels you will need.
Typically, southern states get more sun than northern states. But southern states with higher altitudes and less cloud coverthink of Arizona and New Mexicoget more energy from the sun than states such as Florida or Georgia. So, for the same size house, you would generally need more solar panels in Georgia than you would in Arizona.
Remember, the sun may be shining, but if it is behind a cloud, youre not getting the same amount of solar energy absorbed by your solar PV system. This means that a solar panel in San Diego will produce more energy in a year than the same exact solar panel located in Seattle.
The image below will help you determine the solar energy, known as solar insolation, in your area. Exploring your sun number score should also be helpful. If your roof does not get a good amount of sunlight and you live on a good size amount of land, you may have other options for mounting solar panels elsewhere with better sunlight.
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Can A House Run On Solar Power Alone
Practically, it is not often possible. This is because solar only works when the sun is shining – which means when it is cloudy or nighttime, they do not generate electricity. There are some battery solutions to provide power during these times, but they still tend to be quite expensive. Most homes with solar panels still rely on the grid from time to time.
Type Of Solar Panel Systems
The type of solar panel system you chose will greatly affect the cost. Grid-tie, grid-tie solar and energy storage, and off-grid solar are all options differ in price. Remember, the best solar panels for your property will fulfill your needs and meet your price point.
Lets break down the primary purpose of each system:
- Grid-tie: You have access to the utility grid. Your primary goal is to save money on your electric bill
- Grid-tie solar and energy storage: You have access to the utility grid and your primary goal is to have backup power when there is an outage.
- Off-grid: You do not have access to the utility grid. Your primary goal is to live where it is not accessible.
Once you identify your goals, you can make a final decision based on price.
If you have access to the grid, you can lower the cost of solar panels by using a grid-tie system. When you choose a grid-tie system with energy storage, you have the potential to save even more. Storing electricity in the grid doesnt cost anything, and you may be able to sell your stored energy . An off-grid system is a significant extra cost.
With an off-grid system, youll need to purchase batteries which represent almost half the cost of an off-grid solar system.
If you have the option, we recommend connecting a grid-tied system. However, off-grid solar will still save you money in the long run if you want to live away from a utility grid.
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Understanding The Solar Investment Tax Credit
As we alluded to earlier, the ITC has been an overall boon to the expansion and health of the solar industry. As of 2021, the ITC reduces the cost of installing solar panels by 26%, and its a large reason the solar industry has consistently experienced a 42% annual growth rate for the past decade.
Unfortunately, the residential ITC is set to completely expire by 2024, with the ramp down already happening now. Thankfully, solar panel installations costs overall have decreased during the life of the ITC, but the solar panel industry is still preparing for a slowdown in installations in the short-term future. Therefore, if there was any time to consider solar panels for your home, the time is now. The discount is only going to decrease.
How Does It Work
An economical hybrid solar power system uses an all-in-one battery inverter. That battery includes a solar inverter as well as a battery inverter. The energy of the sun is absorbed by the solar panels by an inverter and it creates usable energy. From the solar rooftop, the electricity goes either to your house, to the battery, or to the grid.
A hybrid solar PV system works by sending solar power to the inverter. The inverter sends energy to your house by converting it to electrical energy. The extra energy that your home does not use goes to the home battery for storage and can be used when the solar panels are not producing energy. Even after all that, if there is leftover energy, it is sent to the grid.
The benefit of using a hybrid solar system is that you have power in all circumstances. A backup battery allows you to store excess energy that your solar panels create but is not used by your house.
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Solar System Cost Analysis Wrapping Up
We hope that this cost analysis helped you get a grasp on the expenditures that go into installing a solar panel system on your residence.
It really all comes down to how big of a system you want and what installer you go with. But regardless, solar prices are down across the board in 2017 and the costs have literally never been lower to make the switch.
We are extremely excited about the future of solar and see the prices continuing to decline, offering great opportunities for customers to do their part in saving the environment and saving on their energy bill in the process.
Here is a breakdown of the cost of solar in the United States. For a more detailed analysis, see the explanation below it!
Here at Solar Action Alliance, we like to inform our readers about all things solar. One of the most pressing questions for somebody that is considering installing solar panels on their home is: what will this cost me?
Its a good question, and one that seems to generate a lot of different answers from a lot of different websites. Some people try to answer by including your savings but we find that most people are just curious about the upfront cost. If you want to know about the savings you can find by going solar, check out our page on solar savings!
Were going to try and answer this question as simply as possible.
Cost Of Solar Power In Canada 2021
Published by Rylan Urban on Jan 14, 2019. Last updated March 11, 2021.
The average installation cost of solar power in Canada is $3.01/watt, or $22,500 for a 7.5kW system.
However, the cost of solar power changes depending on the size of the system required, your eligibility for solar incentives, the type of equipment used, and even on the province that you live in.
This page explains how to accurately calculate the cost of solar power for your property in just 3 steps. You can read from top to bottom or jump to your preferred section by clicking on it below:
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Solar Thermal Costs Considerations In Bc
Solar thermal systems are complex systems which can be installed in various different configurations depending on application, geographic location and site conditions.
The average cost for installing a domestic solar hot water system is about $6,000 for a small family. Evacuated-tubes are about 20% to 30% more expensive than flat-plate collectors.
A solar hot water system can provide water heating needs all year round. In the summer, it can provide up to 100% of hot water needs and in winter it can provide up to 25%. A solar hot water system can easily be integrated with your existing domestic hot water system to provide you with hot water all year round.
The true savings realized with installing a solar hot water system will depend on the type of system installed, its location and your home’s existing hot water system. For example, solar hot water systems are most efficient when used to heat a swimming pool. A professional contractor can help you design and install the most optimum solar hot water system for your home.
So Really How Much Do Solar Panels Cost
Most solar panel specialists say solar panel installation costs between $10,000 and $25,000 after the government tax credit. But, to get an accurate estimate for your home, its best to contact a local professional.
Depending on your situation, the amount of time to see your investment pay off can take several years. Yet, some homeowners can give electricity back to the grid over time because they create more than they need. Thus, they receive payment from the electric company.
The Cost Of Solar After Installation
Its not talked about as much, but one thing to keep in mind about the cost of a solar panel installation is the cost to keep and maintain that system. In general, solar panels require little to no maintenance over their lifetime, and you shouldnt expect to shell out much money at all once your panels are installed and operational. Theres always the off-chance something happens thats not covered by your warranties, however. You may need to trim trees as they grow, or hire a cleaner if you live in an area of the country with abnormal air pollution. Learn more about what you could run into post-installation in our article about the costs of solar panels after theyre installed.
Average Cost Of Solar Panels By Number Of Bedrooms
The number of bedrooms a home has is not a good indicator of its energy needs. But it can be a good gauge of the homes general size. If you are unsure of your size and want a very general understanding of what the costs would be to install solar energy, this can be useful information.
But every household has very different needs. The best way to determine your energy needs is to look at your electric bill for the month. Then decide how much you want to reduce your dependency on the grid to get a more accurate sense of the size and cost of your system.
|Number of Rooms|
|$15,000 – $50,000|
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Federal Solar Tax Credits And State Solar Incentives
When you own the home solar system, you are eligible to apply for up to 100% of the available federal and state incentives and rebates.
As this recent article in Forbes magazine explains, the federal solar Investment Tax Credit , which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years and not drop to 22% until 2023. For a $20,000 system, the 26% federal credit would be $5,200, compared to $4,400 under the 22% credit.
Several states also offer solar tax credits and solar tax rebates. People who own their solar system and/or battery in participating states may be able to claim these expenses on their local taxes or receive cashback on their installation. While you may be eligible for a solar tax credit or a solar tax rebate with the purchase of a home solar system, please remember that tax incentives are subject to change.
Solar Costs Over Time Continue To Fall
A solar panel system hasnt always been $2.76/W. As recently as five years ago, the cost of solar panels was almost 20 percent higher than it is now:
Prices will likely continue to fall even more in the future. The solar industry is still young, and theres plenty of innovation still to come. As manufacturing and installation processes mature and become even more efficient, solar shoppers will hopefully start to see some of those cost savings impacting their sticker price for solar.
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A Note About Pricing: Gross Vs Net Costs
Throughout this article , we usually talk about solar panel pricing in terms of gross cost, aka the cost before any solar rebates and incentives that can reduce the upfront cost of solar, or even get you some money back over time. For example, our cost per Watt figures throughout the rest of this article are always the gross cost. This is because solar rebates and incentives arent always available to everyone. Even the 26 percent federal solar tax credit isnt always available for everyone to take full advantage of you need to have enough tax liability to claim the credit.
Solar installations are a unique product just based on your state and the manufacturer of your chosen solar panels, average solar panel costs can vary widely. We analyzed solar quote data on the EnergySage Marketplace, and heres what we found:
Leasing Vs Buying Solar Panels
Solar leasing has become relatively popular as more people hope to save on their energy bills without having to pay a huge amount of money to purchase a solar panel system. However, leasing and buying both have pros and cons. You often pay more over time for solar leasing, with costs of between $50 and $250 a month. This makes the most sense if you have higher-than-average energy bills. This could be due to higher electricity costs in your area or because you use a lot of electric-based appliances, such as an HVAC system.
With leasing, monitoring and maintenance are included. This may give you peace of mind. With owning, you get a full return on your investment within 10 years. This can actually save you more money long-term than it would have with leasing.
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Calculating How Much Solar Panels Will Cost For Your Specific Home Given Its Location And Electricity Use
Our solar panel calculator is the easiest way to determine the costs and savings of a solar panel installation for your specific home.
All you need is your address and the value of your monthly electric bill, and our solar calculator will determine your local utility companys electricity rates and how much power you use in order to tell you:
- How many solar panels you need to power your home
- How much your solar panels will cost
- How much your solar panels will save you
What Size Solar Panel System Do You Need
The average home uses 905 kWh per month, or around 10,850 kWh per year, in electricity. The average size home with a decent amount of sunshine could install a 5 kW to 6 kW solar panel system to help reduce utility bills. You may want to learn about your sun number score for solar based on your homes location and average sunlight exposure discussed below. Also explore the different solar panels dimensions and sizes for more context.
With solar panels, the money you save on your electricity bills can more than earn back your initial installation costs in 7 to 20 years. There are plenty of solar rebates and incentives available from both the government and local energy providers, which can significantly speed up your return on investment.
You may also be able to participate in selling excess electricity from your solar panels by net metering in your area.
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