While solar energy may seem overly expensive to some, the truth is that solar energy has never been more affordable, more cost-effective or more efficient than it is right now. Now is the perfect time to invest in solar panels for your home – and to do that, you need to really understand what is the cost of solar panels for your home.
Unfortunately, there is no easy way to come out and say, the cost of solar panels for your home is exactly this amount. Why? Simple – everyone (every single home) uses a different amount of energy based on the appliances and other electric devices in the home, and the hours that those devices are used.
Grid tie solar systems make the process a little easier. These pre-packaged kits make it possible to offset between 20-75% of your total energy bill with a solar system that is already pre-designed, pre-engineered and ready to be installed straight out of the box. Typically, pre-packaged grid tie solar systems come in a variety of sizes – from 1-2kw up to 10kw, or more. The variety is to ensure that there are enough different grid tie systems to meet a good portion of the energy needs of the majority of homes across the United States and around the world.
Silicon Solar offers a large line of pre-packaged grid tie solar systems, the TruePower Series, which are available from 2kw all the way to 10kw. And these TruePower grid tie solar systems range in price from just over $7000 up to $35,000 at the high end. However, most residential customers will find that the cost of solar panels for their home is somewhere around $10,000 (before installation costs).
Now, that may seem like an awful lot, but when you consider the current (and future) cost of electricity through the electric grid, and a lifetime of increasing electrical service, solar panels for your home – particularly grid tie solar systems, will easily pay for themselves in a few years, saving you thousands upon thousands of dollars over their lifetime.
And, there are a few of great ways to lower the cost of solar panels for your home, including:
- Federal and state solar incentives, which will pay for a portion of the cost of solar panels for your home through rebates and tax credits
- Net metering, which, in grid tie solar systems, will lower your payback period and increase your ROI by spinning your electric meter backwards
- Sales & property tax exemptions, which will lower the initial cost of solar panels for your home and help increase the overall value the system delivers you over your lifetime
So, what is the cost of solar panels for your home? Again, there is no real cut and dry answer until a solar professional looks over your electric bills and discusses the options with you in a little bit of detail. But, as a rule of thumb, you should expect to pay somewhere in the neighborhood of $10,000 (maybe a bit more) for solar panels for your home.
We have a bunch of great information on our main website about solar panels for your home and grid tie solar systems. Please feel free to use the following links to check it out: