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. How much does the solar panel system cost. 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 a system of solar panels is anywhere from 15 000 to 25 000 per the center for sustainable energy. Installation prices will vary significantly depending on the solar company you choose and the equipment you install.

How much do solar panels cost for an average home. The good news is that beyond that initial investment solar panel. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. 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.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors. On average installation and the system together can run between 15 000 and 25 000. 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. 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.

How much do residential solar panels cost for an average 2000 square foot home.