How much do solar panels cost? On the surface, this seems like a straightforward question, suggesting an answer that is easily attainable.
However, the concept of “cost” includes much more than the sticker price of a few solar panels. When considering a solar panels installation, you need to take into account a variety of this, including materials cost, installation cost, maintenance cost, and energy savings, not to mention the added value to your home or building.
Turning first to materials cost, plan on investing about $6-9 per watt of solar energy, which is on the higher side if you are paying for the installation. The size of your house is largely irrelevant, but you’ll need to look at your recent electric bills and decide how much energy you use in a given month on average and how much direct sunlight you get.
A rough range for the upfront cost of solar panels including installation, solar panels, inverter box, wiring, etc., is approximately $30-40,000 for a single family house if you are looking to entire replace grid-based electricity with solar energy. Your particular needs may range higher or lower. Many property owners choose install solar panels within their budget, which may not eliminate their energy bill altogether, but will reduce it to pennies of what they were paying before.
Learn more about the cost of solar panels.