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What Is the Cost of Solar Panels in 2023?

Did you know it costs on average between $10,000 and $21,000 to have residential solar panels installed?

That is a wide range and relatively vague. As a homeowner, you may be able to afford a $10,000 solar system, but not a $19,000 one. Even if you do have the money to invest in a more expensive system, you may not want to.

Knowing the breakdown costs of going solar is vital and often helps property owners decide if they want to make the switch or not. This guide will give you the cost of solar and will give you a few tips on how to make it a more affordable process.

Don’t wait to find out more about solar services, continue reading below!

Cost Per State

We are going to start off by discussing the cost of solar based on your location. Every state is different, which means what someone pays in Colorado may not be the same amount as someone in Florida.

As a resident of Ohio, you can expect to pay between $18,000 and $33,00. Even though that may seem high, the majority will start to see savings on their utility bill immediately.

The cost of solar heavily depends on the weather and the amount of sunlight your location receives. The incentives offered by your state and county will also affect the price.

The government will give you a rebate for installing solar panels, which can make a huge difference when it comes to the final price.

Cost of Panel Installation

Labor isn’t cheap, and while the price of installation may seem high, it’s worth the money. It’s not recommended that you save money by doing the work yourself.

Professionals will be able to install them correctly the first time and ensure they are secure and working properly.

A few reasons why labor costs are so high. The price of equipment, permits, and other services, such as electrical work, are the main contributors.

If your roof has any issues, you may also have to pay for roof repair work. All these factors add up.

If you’re trying to save money on a project, schedule your installation during the slow season. People typically start home renovation projects in the spring and summer. You may want to put off having solar panels installed until the fall or early winter if you want to save a few bucks.

It never hurts to get a quote. Many companies will offer free estimates which can make budgeting much easier. You can get redirected here to a company with more information on installation costs and quotes.

Solar Panel Selection

Your panel selection is going to be the biggest expense. There are several solar panel options that you can choose from, so if you are on a tighter budget, there are options.

The most common panels are thin-film, monocrystalline, and polycrystalline.

Monocrystalline panels are going to be the most expensive, but they’re also going to be the most efficient.

They are one of the most common residential solar panel options as well. They have a lifespan that ranges from 25 to 40 years.

Another popular choice for homeowners is polycrystalline panels. They are less expensive than monocrystalline, but they are still fairly pricey.

These are not as efficient, but they can last up to 35 years. They are typically blue in color, whereas monocrystalline panels are black. While the color doesn’t affect the price, it is something to keep in mind when making your decision.

Thin film isn’t as common for residential homes. It’s typically used more for commercial use. It’s the least expensive option, and it has the lowest efficiency rate. They also only last about 20 years.

System Size

The larger your home, the more panels you’ll need to produce the right about of energy to help your home run smoothly. The size of your solar system will also be based on your household’s energy consumption. The more energy you use, the more panels you’ll need, which means the price will increase.

Purchasing Options

You will have several purchasing options when you finally decide to buy solar panels. Buying your panels in cash will reduce the overall cost.

However, if you don’t have the lump sum, you’ll need to finance them and make payments. Even if you get a low-interest rate, your cost will increase each month.

Roof Characteristics

It’s not surprising that the characteristics of your roof play a role in the cost of panel installation. Some materials will require the installer to use more equipment, bumping up the price.

Skylights and multiple levels can make the installation process a little more challenging as well, so don’t be shocked if the cost increases. Roofs that have a slope of 30° angle are typically relatively easy to install panels too.

What Is the Cost of Solar Answered

The cost of solar may seem like a lot (and it is), but the benefits far outweigh the initial price. Once you have them installed, you’ll wonder why you didn’t schedule the project earlier.

Homeowners all over the nation are realizing that investing in solar services is the way to go. Don’t be the last one on board.

We hope this guide has been helpful. We know it’s a big decision, so we’ve put a lot of blogs, articles, and information on our site to make the process easier for you. Bookmark our page so you can have peace of mind moving forward.