Solar panels are a worthwhile home upgrade you can make. They’re good for the environment and can help you save money on your electric bills. Houses with solar power also sell well on the real estate market. An increase in house value is one of the many benefits of solar energy you can get by installing solar panels. How much do solar panels cost, though? Even if you want the benefits, you also have to consider the initial installment fees. It can often take around ten years for homeowners to see payback on their solar panels.
Here’s everything you need to know about your solar panel options and what you can expect to pay to install them.
Types of Solar Panels Available
How many home solar panels you need will depend on both your home’s energy consumption and the types of solar panels you install. If a building’s roof space is smaller, you may need to buy more expensive solar panels to compensate. A large backyard space opens you up to more panels for increased savings.
The three major types of solar panels available are monocrystalline, polycrystalline, and thin-film.
Monocrystalline solar panels are the most expensive option but provide the highest performance. The panels are all black due to being cut from a single silicon crystal. They can come with different colored back sheets and frames.
Unlike monocrystalline panels, polycrystalline solar panels are made of silicon crystal fragments melted together and then cut apart. As a result, they’re more affordable but have less performance.
Thin-film solar panel technology has the lowest performance but the most flexibility. They’re very low-profile and slimmer than the other two options. Some varieties can stick onto the roof and only stick out about two inches.
Investing in Solar Panels
How much do solar panels cost for your home, anyway?
According to Consumer Affairs, the average cost in the United States is about $12,000. This includes federal tax incentives, which can help you get money back after your new panels are installed.
The overall cost depends on your home’s size and its needs.
For example, if your home uses a lot of energy but there isn’t much space to install multiple solar panels, monocrystalline could be your best option. It’s the most expensive, but it’s also the most efficient.
Thin-film panels are much more affordable due to the ease of installation and don’t look bulky. However, they won’t save you as much money over time.
If you’re considering a solar installation, make sure to contact a reputable company for a home inspection.
How Much Do Solar Panels Cost in Idaho?
Although the national average for solar panel installation runs about $12,000, the cost in Idaho could be as high as $16,000. However, the investment is worthwhile as you’ll save on electricity, get tax incentives, and earn it all back when you sell your house years from now.
You might still be asking yourself, “How much do solar panels cost?” After all, the national or state average might not represent your current situation.
Contact your local solar company for more information. Chances are good they’ll have some kind of free inspection available.
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