Did you know that over 3% of the entire electricity supply in the USA is generated by solar panels? This figure is expected to grow each year.
One of the reasons for the popularity of solar panels is that they save you money and give you control over your electricity bills.
However, to be able to benefit from these long terms savings, you need to be able to meet the cost of installation and your solar panels.
What is the average cost of solar panels? How can you save money on your purchase of these panels?
Why not read on to find out more?
The Cost of Solar Panels
In order to calculate the cost of the solar panel installation for your house, you will first need to calculate how much electricity you are consuming on a regular basis each month. There are some online calculators that will help you work this out accurately.
The average solar panel system will cost about $3-$5 for each watt of electricity you use.
While it is true that solar panel prices vary from company to company, this equation will give you a good guideline price.
While this figure may seem higher than you expect, remember that the savings that solar panels provide are long-term. Further during their usage, panels require little or no maintenance.
Is there a way to bring the price of your solar panels down? What about government incentives?
Government Incentive Schemes
The government does often provide incentives that will make the installation and running of your panels cheaper. However, this changes from time to time so it is important to check out the latest incentive rates.
One such incentive was the opportunity to reclaim back 26% of the installation price. That is a whole quarter of the installation expense! You will need to act fast though as this is expected to end in December 2021.
Other incentives are provided by the state. You may be able to get cashback, waived fees, and other permits. Why not check out what local authorities will give to you to switch to solar?
Why Solar Installations will Get Even Cheaper
Change in international politics and trade agreements also affect the cost of solar panels.
For instance, if you are considering a solar panel installation within the next few years, you may want to wait until after 2022. The tariff that adds to the cost of imported solar panels will end in 2022 and the price is expected to drop even further.
Find Out the Average Cost of Solar Panels and Much More
It’s a fact, solar panels can and do save you money over time. However, you will need to be able to meet the initial installation fee to be able to benefit from the long-term savings.
You now know the average cost of solar panels and how to get the best deal, why not get a quote for your home today?
If you want to read more time and money-saving articles like this one, why not check out the rest of our blog page? We publish new articles each week that we know you will enjoy.