Cost of Solar Panels | The REAL Cost
The REAL Cost of Getting Solar Panels in California
Cost of Solar Panels
The ever-increasing cost of grid-powered electricity makes solar panel installation a no-brainer solution for homeowners and businesses nationwide. However, you may wonder what the actual cost of solar panels is and if they really allow you to save money at all.
According to the Center for Sustainable Energy, the average cost of a solar panel system ranges from $15,000 to $25,000. However, several other factors such as the location, size of the property, and consumption needs can impact this price.
However, let us find out what the real cost of a solar panels system is going to be and if it will help you save.
1. Evaluating Your Sunlight Exposure
The more sunlight you receive, the better your energy generation will be. So, states such as California, Nevada, Texas, Oklahoma, Kansas, and other receiving the most sunlight can genuinely benefit from the solar panels’ system.
However, the home’s orientation, whether facing towards or away from the sun, type of roof and amount of solar panel shades, will determine the effectiveness of the system’s output. No matter which state you are in, you can calculate the estimated efficiency of solar panels in your area via the Solar-Estimate calculator.
2. Estimated Solar Panel Costs
Solar panels’ upfront cost may be slightly higher, but the minimal long-term costs for repair and maintenance make up for it. Most solar panel systems are going to last you for 20 years or more without any change in electricity production.
According to the CSE, an average solar panels residential system with 5kW capacity and installation will cost you between $3 per watt and $5 per watt. Hence, this will add up to between $15,000 and $25,000.
3. The Incentives
The U.S government now offers significant incentives to the homeowners for installing solar panels on their properties. As a residential federal taxpayer, you can claim up to 22 percent of your installation cost on systems placed by December 31, 2021.
These federal tax benefits are non-refundable, i.e., you cannot get them in the form of monetary refunds. However, you can use it to eliminate or reduce the amount of taxes you owe.
Furthermore, additional credits can vary by your state. For example, you may be able to receive extra incentives such as property tax exemption, cashback, expedited permits, and waived fees.
Some states allow homeowners with solar panels installed to sell their excess power to local utility companies. If you wish to look up all the credits and exemptions available in your residential state, simply check out the database of incentives for each state.
Make Your Call
If you live in an area with suitable solar ratings and afford an initial investment, solar panels are worth every cent you spend. Moreover, you can also qualify for a 22 percent tax break. This is a win-win situation for both your wallet and the environment.
Plus, it may also increase the value of your home as there is an alternate energy generation source installed on it. However, do not expect your bills to come down overnight.
Conclusion
Cost of Solar Panels
No matter which state you are in, CellX Energy is your go-to solar panel systems provider nationwide in the U.S. Contact us today and discuss how much it is going to cost in your location.
