Solar Panel Prices Drop

The solar panel, energy, sun harvesting, revolution, aka,  Solar energy. You’ve detected it on the news. You’ve studied it in magazines. And you’ve prepared a lot of questions. Price being on the top of your list. How much does it fetch from the ole' wallet/purse to install solar panels? How much cash do you have to put down? How long to see your results on investment? Read on to see how you’ll be able to save on your power costs and help the environment while you’re at making and saving money.

Estimating Price Of Solar Panels

Statistics indicate that the national standard for electricity expenditure in the United States is around 1 kW per hour, with the domestic price of 1 kW per hour of electricity at $0.10. With 730 hours in a month, that means the typical power bill hovers around $73. Is your bill much higher than the average? That's not unexpected. The price of electricity varies widely state-by-state, and the consumption per state varies just as much as well. Of course, what we power in our homes plays a significant role in what your utility bill averages per month. Generally, if it’s the middle of summer and you’re enduring heat waves over 100 degrees, your air conditioning is likely running non-stop.

Contrastly, if you’re in the dead of winter and the temperature is fighting to get above freezing, your heater is going to run and run. Have a jacuzzi in your home? That will engulf a lot of energy too since it operates all day. Think about all the other appliances in your house that run “in the background.” These are all the “little” things that push up the price of your utility bill. Couple that with the increase in electric bills by 3% every year, and you really want to hear more regarding this solar energy.

Solar Panel Prices

The good message is that their costs have dropped drastically over just the past five years. And, the motivations for getting them installed in your home keep getting better as well. Cost drops, tax incentives, and federal tax credits have made it achievable for some residential solar systems to be priced under $10,000 following installation. This is huge, considering in 2009, when solar panel installation started gaining steam in the “green economy,” the medium cost of installed solar systems remained $25,000 to $35,000 per home.

In 2016, the typical cost to install a solar panel was $3 to $4 per watt. And the ordinary solar photovoltaic system Americans usually install in their homes is about 5 kW (5000 watts). At these rates, most people can install a solar system in their houses for about $12,500.

Want to save and be guided by experts who do the research and know the answers? Go to HahaSmart.com and try our price checker tool. How much solar power you need and how much you can save on your energy bills each month.