Installing solar panels on your house offers an excellent chance to make money while doing good. More than 2 million homeowners are using solar power these days thanks to the strong encouragement of their countries. The most significant number of homeowners to get quotations for residential solar systems was over 60,000 in August 2021.

However, depending on where you live, what your utility provider charges for electricity, and how much power your particular home needs, the economics of solar can vary greatly. 

This is why we include a solar payback estimate at the beginning of our Solar Panels for Home Beginners Guide that determines the economics of solar using your zip code and the size of your existing power bill. 

In 2022, how much will solar panels cost the typical home? 

After collecting the 26% federal solar tax credit, the cost of installing solar panels for a residential building today ranges from $13,098 to $16,872. (more about that below). This equates to an average cost per installed watt of less than $3.00, more than 70% less than the price of solar power just ten years ago! 

Depending on where you live and how much energy you consume, how much will solar panels cost for your particular house? 

Even if the average price is astounding, your house is probably not typical. What you need to know is how much it will cost to install solar panels on your home, considering its location, how much power it uses, and what type of savings and payback time you can anticipate. 

We understand that $12,000 is hardly trivial money. Fortunately, many zero-down solar financing solutions, such as solar loans, let you switch to solar power and begin saving as soon as the panels are turned on without worrying about significant up-front fees. Because you maintain the solar tax benefits, we advise solar loans over leasing. 

With solar leases, the leasing firm receives the tax credits, and the buyer of your property must agree to the solar lease’s assignment if you decide to sell. It is not essential because, with a solar loan, you already own the system. 

A reminder for brand-new solar enthusiasts: Watts and kilowatts estimate solar system capacity. One kW is equal to 1,000 watts. The maximum generation capacity of a system is measured by its kilowatt rating.

• Uncategorized