A 26% investment tax credit for the transition to solar panels has become an additional material incentive for the implementation of the idea of developing green energy in the United States. A lofty idea backed by government action is encouraging more and more Americans to consider the installation of solar panels. To weigh the rationality of such an action and determine the solar panel cost, take the assistance of the HomeQuote online calculator. Considering all the components of the final estimate and the prices of local contractors, the platform provides this service free of charge to everyone.
Benefits Of Solar Panels
In addition to the obvious advantage of investing in green energy, solar panels are characterized by other positive aspects as well:
- Relatively fast payback of the panels. They pay off even if you live in a cloudy area with a lot of rainfall. It will take a little more time, but in the end, you will still receive a net profit from the project.
- Autonomization of electricity production. You will no longer be dependent on suppliers who may unreasonably raise electricity prices.
- The possibility of additional earnings in the case of overproduction of energy and its direction into the general network.
- Reducing greenhouse gas emissions into the atmosphere.
- The durability of panels’ operation, due to which their replacement, in most cases, will be required no earlier than after 20 years.
What Determines The Price Of Installing Solar Panels?
Prices for products are established by the manufacturer, but the final cost of the project can only be calculated based on the characteristics of the house and the area in which it is located. The HomeQuote platform, which specializes in selecting the best contractors for all kinds of construction and renovation projects, will help you determine the total cost of the work and the most optimal local contractor. The following factors are included in the overall budget:
- The quality of the customer’s roof. Old and rotten roofs will have to be replaced.
- The angle of the roof, which determines the amount of incoming direct sunlight. The ideal option is a 30-degree roof slope. Steeper or flatter options are less economical and will, therefore, require more panels.
- The orientation of the roof relative to the cardinal points. When the panels are installed facing south or west, they will receive more light.
- Roof size. If it is small to host all the required panels, they have to be supplemented with ground models.
- The average amount of energy that your household consumes.
- The climate of the region. Cloudy, snowy, and rainy regions will require more panels. To offset the costs of bad weather, you can also consider an advanced solar panel system that takes weather into account.
- Manufacturer’s brand and type of solar panels. Polycrystalline products will cost more than monocrystalline ones.
- Installation cost. It depends on many factors, such as the complexity and scope of work, prices and qualifications of the contractor, and others. HomeQuote will help you compare the prices of local contractors and choose the best ones.
Average Solar Panel Installment Costs
Each state has its average price per watt:
- Before the introduction of tax incentives, it ranged from 2.4 to 3.5 dollars per watt. As a result, the average cost to build a 6kW system varied from $14,100 in the cheapest states to $20,400 in the most expensive.
- After the introduction of tax incentives, the national average cost became $2.8 per watt, and the national average cost decreased to $12,000.
However, remember that these tax benefits will only be valid until 2024. Therefore, it makes sense to think about installing solar panels right now. HomeQuote will help you with all calculations and the selection of the best contractor.