Are Solar Panels Worth The Cost

The decision to switch to renewable energy in your home should not be made lightly.

Are solar panels worth the cost.

The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied. On average installation and the system together can run between 15 000 and 25 000. This makes it easy to compare the relative value of solar systems of different sizes in terms of the watts of power they can produce. The average cost to install a system of solar panels is anywhere from 15 000 to 25 000 per the center for sustainable energy.

While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment. How much does the solar panel system cost. While residential solar panels are more popular now than ever before and boast multiple benefits including savings on electricity bills and a more sustainable home many homeowners are put off by high solar panel cost before taking the leap into solar researching its pros and cons is essential. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.

The good news is that beyond that initial investment solar panel. Solar panel cost is often measured as the cost per watt of solar. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

How much do solar panels cost for an average home.