Cost of Solar Panels

The cost of solar panels or photovoltaic solar panels is often the main deterrent when it comes to going solar. Although prices have dropped dramatically and will continue to do so for some time due to increased production and inventory, it is still hard to beat the price of electricity from your power company. But that will change!

As the economy slowly recovers worldwide, energy prices will rise to meet the demand!

Ok, what do solar panels for homes cost? A single solar panel can be bought for around $300 dollars. And that is not the installed price. Of course one solar panel is not going to power your home, unless you have a really small house like…… maybe a dog house. A single panel produces about 36 volts or about 75 watts.

Solar Panel House

A solar power panel system large enough to power an average energy efficient home will cost around $30,000 to $40,000 dollars. That is for a 5000 watt or 5 kilowatt system. And that is for an energy efficient home!

Solar Panel House

Now even though that seems very expensive there are incentives to ease the burden. Most states and the Federal government offer tax credits to offset the cost of installing home solar panels. And some cities and even power companies offer rebates and tax incentives as well. In fact with all the tax credits, incentives and rebates the cost of going solar can be cut in half.


House with Solar Panels

So after the rebates and tax credits the cost of solar panels for your energy efficient home would only be around $15,000 to $20,000 dollars. This might still seem high but with residential solar panels lasting twenty to thirty years the cost would be less than $1000 dollars per year or about $84 dollars per month.

 

House with Solar Panels

And then there is another and much cheaper way to use solar energy! If you are handy and like a small challenge you could build your own solar panels. It's really not that hard and doesn't require a workshop full of expensive tools. And you can make solar panels that look like store bought and cost you less than half of what store bought panels cost!

There would also be the savings from dramatically reduced power bills if your residential solar panels were connected to the power grid. And if you were no longer on the grid, your solar power panels would give you the satisfaction of snubbing your nose at the power company.

And of course another satisfaction to enjoy is the fact that the power that is lighting, cooling, and heating your home is not polluting the earth or contributing to global warming!

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