The craze for sustainable energy has continued to pick up steam and when it comes to renewable energy sources, solar panels are all the rage. One of the biggest questions homeowners have when considering having solar panels installed is how much it will cost. Here you will learn more about pricing on solar panels and how much value they provide in return for your investment.
What’s the Average Cost for Solar Panels Including Installation?
The average cost of solar panels varies across different states. Here’s a breakdown of the average costs for solar panel installation by state. Keep in mind these prices are for solar panels from a particular system size in kilowatts and reflect the cost after the 26% federal tax rebate, not before.
|District of Columbia||$11,921|
As you can see, West Virginia and South Carolina have the highest costs for solar panels and installation. Even in these states, however, you’ll still make the money back on your investment as your solar panels start powering your home and reducing your dependence and expenditure on the electric company.
Because some states offer further rebates and tax incentives which can lower the cost of solar panels, it’s best to receive quotes from local solar panel installation companies to find out what it will cost in your specific area.
What to Know About Solar Panel Costs
It’s worth noting that the price of solar panels and installation lessens over time. That’s because the technology is advancing so rapidly that the price of solar panels will continue to drop. Whether you invest now or later, it’s a much better time to buy than a number of years ago when the technology was comparatively much more expensive.
The Value Factor
One thing you have to think about when weighing the costs of solar panels and installation is the value that you’re getting, Let’s try a little experiment. Calculate your average electric bill and then multiply it by twelve. That’ll show you how much money you spend on electricity each and every year. Now take that number and multiply it by the number of years that you expect to live in the same house. The resulting figure will tell you how many years it will take to recover your initial investment and how much it will pay off in the years afterward.
If you’re planning on selling your house in a number of years, installing solar panels can bump up the value significantly depending on your city and state, the quality of the solar panels, and whether you have a warranty on the panels.
For folks living in the Kansas City area, Live Smart Construction is the place to go for anything solar.
Get a quote today, from Live Smart Construction, Kansas City’s trusted contractor for solar panel installation!