Solar panel installation is a big investment. It can help you save thousands of dollars on electricity bills over the 25-year warranty period. Depending on the State, pricing for solar systems varies. This is because of local quoting trends and system size differences. Monocrystalline panels, made from melted and molded silicon, are the top-performing option.
Cost of Panels
The average cost of solar panels for most residential solar systems cost around $3 per watt, including installation. The price varies by location and system size. Some states have better energy costs or receive more sunlight, so you will need a larger system to offset your utility costs.
Monocrystalline and polycrystalline solar panels are the most popular options today. They are both durable and cost-effective. Monocrystalline solar panels have the highest efficiency rate but are more expensive upfront.
The average 2,500-square-foot home uses 13,000 to 16,000 kilowatt-hours of energy each year. This means a homeowner needs an average-sized solar power system that costs $20,000 to $23,000, depending on the State you are in.
A full payment option is usually the most affordable as it prevents interest rates and allows you to qualify for state and federal tax incentives. Leasing options also reduce upfront costs, but you will not own your system and will pay a monthly fee to the solar company for your energy usage.
Cost of Inverter
The inverter is an essential component that converts your panels’ electricity into usable energy for appliances and electronics. The cost of an inverter can vary depending on the size of your system and the type of inverter.
Solar systems are also often sold with a solar battery, which allows you to store extra energy and use it at night or during power outages. Lastly, many systems include solar monitoring, which updates how much energy your panel produces.
Two key location-based factors will determine your total solar installation costs: the cost of traditional energy in your area and how many kilowatt-hours (kWh) your home uses. A larger household will require a bigger solar energy system to offset its usage.
Cost of Installation
Several factors impact the total solar system cost. One is your location and electricity costs, which determine the size of the solar system needed to offset your energy bills. Another is your home size, which impacts the equipment required to generate enough electricity for your household.
Other installation costs include the racking and mounting system, which varies by roof type and your racking option. Additional BOS (balance of system) pieces like grounding hardware, systems labels, and disconnects aren’t included in your panels but are necessary for your solar power system.
Warranties typically cover maintenance services. Your panels will also need periodic cleaning, which a local professional can do for a few hundred dollars on average. In addition, you might need to replace a panel, which can cost up to $450 on average, depending on the type of damage and your warranty coverage.
Cost of Maintenance
A PV system can be expensive, especially if you purchase it outright. Solarize programs can help reduce up-front costs by offering discounted plans to homeowners. However, you should still carefully evaluate bids from installers to ensure you get a quality installation at a fair price.
Most solar panels are very durable, and most warranty policies cover the cost of repair or replacement. However, your commissions will need regular maintenance to perform at their best. Dust and other debris can build up on your panels and decrease their generation, so cleaning them regularly is important.
Many solar companies recommend cleaning your solar panels twice to four times yearly. You can clean your panels with a hose and non-abrasive cloth or hire a professional to do the job. It’s also a good idea to inspect your panels twice yearly to ensure they function properly and that extreme weather conditions have damaged no wires or connections.