Did you know that 173,000 terawatts of solar energy are continuously striking Earth? That’s more than 10,000 times the world’s total energy use.
While burning fossil fuels continues to damage our atmosphere, an increasing number of homeowners are switching to solar to save money and protect the environment.
In recent years, solar system prices have significantly fallen thanks to government tax incentives and technological advancements. Continue reading to learn how much installing solar panels will cost in 2022.
Factors That Affect the Cost
Various factors will determine how much you’ll have to splash out to make the switch to solar energy.
While the cost of installing solar panels is dropping across the nation, the price will vary from state to state. You must consider the average cost of solar panel systems and labor costs in your area. Plus, each state offers different incentives and rebates.
Another factor that will affect the cost of your solar panels is the ease of installation. The type of roof you have can play an important role, and any structural issues should be dealt with before the panels are installed.
A more extensive solar panel system will cost more, while the panel brand and quality will also impact the installation costs. Homeowners may also want a tracking system to monitor their functionality which will likely drive up the price.
So How Much Will It Cost?
The cost of installing solar panels has plunged by approximately 70% over the last ten years. The modules are more efficient than ever, and the installation costs continue to decrease.
The average cost for a solar panel system in the U.S. ranges from approximately $17,538 to $23,458, according to EnergySage. Getting quotes from different contractors is recommended to help you find a provider that suits your budget. And they can help you understand what size solar system you need, offering a complete financial breakdown of going solar.
Will Installing Solar Panels Save Me Money?
More and more people want to know how to install solar, because the money saved on electricity bills will typically earn back your initial installation costs within 7 to 20 years.
Energy prices are fluctuating more than ever, and there’s probably never been a better time to become energy independent. Discover how much money you’ll save here.
There are a few factors that will make it more beneficial to switch to solar. While the upfront costs are high, you’re more likely to save money in the long term if you have higher bills.
If you live in an area that doesn’t receive much sunshine, your solar energy system may not be capable of providing you with all your electricity needs. Sunny states like Arizona and California are best suited to solar power. Your home’s orientation towards the sun is also important when considering if solar power can save you money.
The Future of Solar Is Bright
It’s indeed true that the upfront costs of solar are significant, yet returns are high. Plus, there are minimal maintenance costs, and you’ll no longer be at the whim of wildly fluctuating energy prices.
Did you enjoy this article about the cost of installing solar panels? Well, take a look at more great blogs on our website