We’re living in turbulent times. Motivated, even fanatical politicians all over the world tout the necessity of a green energy revolution.
Amid this newfound belief in all things green, renewable energy sources continue to win legitimacy and popularity with ever-greater numbers of people. If you’ve been struck by this current trend and think that installing solar panels is your answer, it’s essential to take a realistic look at the financials before you go all-in.
To this end, we’re taking a minute to answer the question, what is the average cost of installing solar panels?
Ready to find out? Then read on!
Affordability Of Solar Panels
The average solar panel is $3 per watt. This means that a typical 6 kilowatt (kW) system will cost around $18,000. The cost of solar panels has fallen significantly in recent years, making them a more affordable option for homeowners and businesses.
The federal government also offers tax credits and other incentives for installing solar panels, which can further reduce the cost.
Cost Of Installing Solar Panels
There is no answer to the question of how much it cost of installing solar panels. The price will vary depending on the size and type of system you choose, well as the incentives and rebates available in your area.
The average cost of a residential solar panel system in the U.S. is around $3 per watt or $15,000 for a 5-kilowatt system. Yet, with federal and state incentives, the cost can be reduced to as low as $4,000.
While there is no definitive answer, the cost of solar panels is between $15,000 and $40,000.
Installation And Labor
This cost can vary based on the size and type of panel being installed as well as the climate. In some cases, the cost of solar panel installations could be as low as $10,000.
The average home requires between 20 and 30 solar panels to completely offset its energy use, so the total cost of installing solar panels will vary based on the size of the home.
The average payback period for the cost of solar panels is between 7 and 10 years, making them a very worthwhile investment. You can check with Blue Raven Solar. Their entire installation is pretty solid!
Solar Panel Problems
Solar panel problems can and do occur, and they can be costly to fix. The most common issue is with the panels themselves, which can suffer from manufacturing defects or breakages due to weather or other environmental conditions.
Besides, the inverters that are used to convert the solar panel’s DC output to AC power can also malfunction, resulting in a loss of power. While solar panels are generally a very reliable technology, it is important to be aware of the potential problems that can arise and to have a plan in place for dealing with them if they do.
Switch To Renewable Energy
Several factors can affect the cost of installing solar panels, but the most important thing to remember is that the cost has decreased significantly in recent years, more viable option for those looking to switch to renewable energy.
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