How Much Does it Cost to Install Solar Panels?
Most homeowners spend between $17,338 to $23,088 nationally.
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Since more and more homeowners are interested in going green as a way to protect the planet and save on energy costs, solar power is becoming an increasingly popular option. The initial expense of installing solar power panels is significant, but you can reap the rewards by enjoying clean, cost-free energy. In some states, you may even be able to receive tax benefits for having solar power. Find out whether the costs of installing solar panels will fit into your home plan and your budget.
National Install Solar Panels Costs
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$19,510
Average Cost$100
Min Cost$38,000
Max Cost
$17,338
to
$23,088
| National Average Cost | $19,510 |
| Minimum Cost | $100 |
| Maximum Cost | $38,000 |
| Average Range | $17,338 to $23,088 |
How do we get this data? This info is based on 456 cost profiles, as reported by ImproveNet members.
Typical Costs of Professionally Installing Solar Panels
While installing solar panels is an appealing idea to many homeowners, particularly those with plenty of property in a sunny climate, the costs are large enough to think seriously about the investment. On average, homeowners can expect to pay anywhere from $9,865 to $15,241 to have solar panels professionally installed. However, the benefit of creating natural energy and not having monthly electricity bills may make that investment more than worth it.
Choosing the Right Kind of Solar Panel
One of the biggest cost factors when it comes to solar panels is which type is best. Monocrystalline, made from a sheet of silicone, is the most expensive as well as the most efficient. Polycrystalline is similar in price but slightly less effective. The cheapest option is amorphous solar panels, but buyers sacrifice quality in order to afford the low price of this panel type.
Selecting a Solar Panel Mount
How you mount your solar panels affects costs, but it also plays a role in how much solar energy you are able to capture. Static mounts are affordable, but they only receive sunlight from one direction. Adjustable mounts, and specifically those that track the arc of the sun on a daily basis, are both pricey and effective.
Additional Cost Considerations of Installing Solar Panels
Despite the serious costs of solar panels and installation, there are many financial benefits to keep in mind as well. Along with the tax subsidies and benefits offered to homeowners with solar panels, many electricity providers will buy your excess solar power to sell to others. That means that over time, your solar panels may actually be able to make you money.
Image source: Open Sky Energy
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Last updated on May 20, 2016
