Did you know that solar energy is one of the world’s most abundant energy sources?
It’s one of the cleanest too, which is why more people are getting solar panels installed on their houses, businesses, and even schools. But, while more people are aware of solar energy, quite a lot of people think that the cost to have solar panels installed is too high.
Well, we’re here to disagree with you. Not only is it cost-effective since you can get a tax break on your investment and after-energy cost savings, but it’s super convenient and pretty efficient too.
Read on for what you need to know about the cost to have solar panels installed.
Detailed Breakdown of Solar Panel Installation Costs
A detailed breakdown of solar panel installation costs reveals that the cost to have solar panels installed depends on several factors. The cost of a solar system can also be lower when leased over an extended period. With all these factors joined, the average cost for a solar panel installation can range from $15,000 to $20,000.
The Size of Your Rooftop
The size of your rooftop will be one of the main factors that will decide the cost of having solar panels installed. On a smaller roof, the cost of installation may be lower, as fewer materials may be required and the process may take less time.
Also, a smaller rooftop may not be able to accommodate the same size of solar panel array as a larger rooftop. This leads to fewer panels being installed and a lower cost.
On a larger rooftop, the cost of installation may be higher, as more materials may be needed, and the process may take more time. Also, a larger rooftop may be able to accommodate a larger solar panel array, leading to more solar panels being installed and a higher cost. Finally, the size of your rooftop will be one of the primary factors used to decide the estimated cost of solar panel installation.
Number of Panels You Need
The number of solar panels needed for installation depends on various factors. This includes the household’s electricity consumption, the desired location of the solar panels, and the size and setup.
Generally speaking, the more solar panels are needed for installation, the higher the total cost. For example, a 5-kilowatt system requires 20 panels and can cost anywhere from $13,000 to $20,000, depending on quality, location, and other factors.
Local Labor Costs
The local labor costs associated with solar panel installation can have a significant impact on the total installation cost. Depending on where you live, the cost of labor can range anywhere from $50 to over $100 an hour.
Generally, larger and more complex solar panel installation projects may must more labor and a longer time frame, resulting in increased costs. Also, to the base hourly rate, other cost aspects to consider include the number of workers required to complete the job.
Type of Solar Panel
The type of solar panels you choose when looking to install solar panels on your property will affect the cost of installation. Generally, higher-quality solar panels cost more to install. This is due in part to their increased efficiency, durability, and ability to produce more energy.
Monocrystalline and polycrystalline solar panels tend to have the highest efficiency rates. They also have the highest upfront and installation costs. Thin-film solar panels have the lowest efficiency rates but also have the lowest installation costs.
Hybrid solar panels are in-between, offering an effective compromise between installation and performance costs. Installation costs vary on a project-by-project basis, but solar panel prices range from as low as $0.50 per watt to as high as $0.90 per watt.
The Location
The cost can vary depending on the geographical area and other factors such as accessibility and local regulations. For example, electricity prices in more rural areas tend to be much cheaper than those in more urban locations.
Also, the amount of sunlight a particular location receives will be a factor as well since a system that is in a location that does not receive a lot of direct sunlight will have to use more expensive components. Also, environmental factors particular to a given geographical area can also cause the cost of installing solar panels to differ, such as the availability of sunny days and the cost of labor.
Needed Watt
This is a term that refers to the total wattage that a solar panel setup must be able to produce solar power for the appliances and devices that will be connected to it. The wattage required for any installation will depend on the equipment that will be connected.
To calculate the total cost of a solar panel setup, one must factor in the total wattage required. Since solar panel setup is complex and specific to each project, it is important to do thorough research to best determine the needed wattage and cost associated with the installation.
Type of Mounting System
Solar panels are usually mounted on top of a roof, on the ground, or on custom-constructed racks. This type of mounting system is a major factor when determining costs for solar panel installation.
Roof-top mounting systems come in both pitched and flat designs and have a much higher cost due to the labor involved in attaching them to the roof. Ground Mounting systems are generally less expensive to install due to much less labor costs and lower material costs compared to other types of mounting systems. Custom-designed racks are the most expensive solar mounting system as the cost of materials and labor for building the racks is large.
Wiring and Inverters
Solar panel wiring and inverter installation costs can vary depending on the complexity of the wiring. Wiring and inverter costs range from $0.50 – $1.50 per watt for a standard electrical setup. Complex wiring practices and higher wattages can increase costs.
The wiring should encompass a conduit, disconnect switch, racking structure, and proper weatherproofing. There is no loss of energy, and it adds protection against environmental hazards.
Inverters are to convert the DC electricity that the panels generate, into usable AC electricity. An inverter can range in cost from $500-$2,000, and more in the case of a large commercial installation.
Permits and Inspection
When installing solar to your home, consider the cost of permits and inspections. Depending on where you live, the cost of the permit ranges from $15 to $500. The inspection can cost several hundred dollars.
For example, in California, a solar installation can range from $350 to $500, while the inspection can cost more than $500. Certain permits may also be required by local and state governments for the installation meets the applicable codes and standards. Depending on the complexity of the installation, inspections may also need to be done by a third-party professional for all rules and regulations to be followed.
Homeowners may also need to pay added fees for inspection reports and permits. All in all, solar panel installation costs can vary depending on the complexity of the project, so it is important to consider the cost of permits and inspections.
Exploring Government & Utility Subsidy Program Eligibility
Exploring your eligibility for government utility subsidy programs can help to decrease the cost of installation. Many utility companies partner with solar panel companies to offer generous cash or tax credit programs. This is to help customers finance or reduce the costs of solar panel installation.
It is important to understand which incentives are available in a specific region. Also, know what qualifications need to be met to receive the incentives.
State, local, or federal governments may also offer incentives, generally in the form of rebates and tax deductions. Before signing any contract, it is important to research all possible options. Weigh the various subsidies and incentives that apply to your individual situation.
Assessing Maintenance and Repair Costs
The cost to install solar panels ranges between $3 and $5 per watt and can go up to $12 per watt depending on the area and the system being installed. The average cost of maintenance and repair costs ranges between 10-20% of the first cost. Maintenance costs vary depending on the complexity and location of the installation.
Proper maintenance can extend the life of solar panels, which can reduce repair costs. For instance, cleaning the panels and having any potential problems fixed right away can save money down the road.
Finally, assess maintenance and repair costs for solar panels and factor in the cost of installation. This will help ensure a long and reliable source of solar energy.
Understanding the Overall Cost to Have Solar Panels Installed
The cost to have solar panels installed is variety-dependent. Shop around and conduct research to decide your best choice.
Solar panels are an achievable, clean, and nontoxic energy source that can add long-term value to your property. Contact a qualified and certified office today to assess the costs and benefits of solar panel installation.
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