If you’re considering a sustainable, renewable switch to solar energy, you are now alone. A switched to solar last year, with all of the numbers suggesting that 2021 and 2022 will also be record-breaking years for solar power.
We all know that solar power is great for the environment and allows homeowners to be more self-sufficient, instead of being at the mercy of utility companies. However, few of us know exactly how much solar panels cost. For this, we have got you covered. Read on to find out everything that you need to know about the cost of solar panels in 2021.
1. Cost of Installing Solar Panels
First off, it’s worth covering the installation costs of going solar. You can try to buy solar panels and install them yourself, but this is very difficult to do if you are not a trained professional. Installation costs vary in the US depending on the brand that you select. On average, solar energy system installation will cost anything between $17,760 to $23,828, before any deductions.
This is the cost of setting up all of the solar panels on your property and ensuring that they will power every part of your home. You can usually pay this cost off over years, rather than up-front. In addition, tax credits and deductions, which we will discuss down below, will lower this cost substantially.
2. Cost of Solar Panels
As well as the actual installation, you will need to cover the cost of solar panels. Again, the price that you will pay for the panels depends on the type and quality of the panel, as well as the brand. On a per-watt basis, solar panels in the US cost between $2.40 to $3.22. However, this figure does not say much about the actual sum you will pay.
For this, it is worth looking at cost of solar panels for your average American home. Again, there is a lot of diversity in price points here. The smallest homes can pay as little as $5000 for the necessary panels to power it, while the largest American homes could require $50,000 worth of panels. Again, can as much as half these costs.
3. Cost of Solar Energy Bills
You might be wondering whether solar power will actually save you money on your energy bills. For this, you may be pleasantly surprised. As explained by https://blueravensolar.com/blog/solar-pros-and-cons/, once you have paid off the actual costs of the panels and installation, your monthly energy bills for solar will be $0.
That’s right – zero. Your energy source is the sun, which is owned by nobody. Although you might still have to pay some energy bills for when your solar is not sufficient, these too will be greatly reduced. The end result is that the amount that you spend on energy over your lifetime will be reduced substantially, amounting to massive savings.
More Life Hacks for Sustainable Living
Understanding the real cost of solar panels can help you make more informed choices about your energy, your finances, and your lifestyle. For more essential hacks for more sustainable living, we have got you covered. Make sure to consult our in-depth lifestyle guides to learn more.