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What is the Average Cost of Solar Panels and Home Installation?

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According to the U.S Energy Information Administration, the average American used 10,649 kWh in 2019.

Depending on the state, that would amount to an average of $200 a month in utility bills. That’s why many people are looking into the cost of solar panels.

The average cost of solar panels has seen a decrease in price due to different factors. Now is the time to make the transition to a more cost-effective energy system. Let’s take a look at the factors that influence the cost of solar panels!

Electricity Needs

First of all, you must consider how much electricity you want them to generate. The average cost per watt is between $2.51 and $3.31. If you need solar panels that produce 5 kW (1 kW is equal to 1,000 watts), you can expect to pay an average of $11,000.

Type of Solar Panels

Not all solar panels are the same. There are different factors you must consider when thinking about the average cost of solar panels. The cost of one solar panel can be as low as $5,000, but at the same time, some larger ones can cost up to $40,000.

It comes down to what material you choose for your solar panels. Monocrystalline is a lot cheaper but not the most efficient. In comparison, polycrystalline is very efficient and considered the best material for solar panels, but it’s expensive to install.

Your Home

The size of your home also factors into the cost of solar panels. As you can imagine, a bigger house will need more panels than a smaller one. The good news is that most homes only need 10 to 30 panels to supply all of their energy needs.

Average Cost of Solar Panels 

Once you figure out the average cost of solar panels, you’ll also need to factor in how much the installation will be. Most reputable solar panel companies, like Blue Raven Solar, will explain in detail the cost of the installation as there are many steps involved.

Let’s take a look at a few things that influence the final installation cost:

  • Permits
  • Design
  • Size of home
  • Number of panels

The company will need to design a solar panel system specific to your home’s layout and energy needs. Additionally, you’ll need specific permits from your state to be able to start the installation. The amount you must pay for each permit may vary from state to state.

Switch to a More Efficient Energy Supply

The initial cost of solar panels may be expensive, but it’ll save you thousands of dollars in the long run. On top of the fact that you’ll be saving lots of money, you can also feel happy that you’re investing in a cleaner future for the environment. Don’t wait any longer, and contact your nearest solar panel company to start saving money.

Did you find this post helpful? If so, be sure to check out our other home-related articles. Without a doubt, you’ll find more content that will help you!

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