Solar Panel Cost

Modern Home with Solar Panel RoofLike any home project, an investment in a solar panel system will present a number of factors to consider. The cost of solar panels is among the most frequently asked questions Vision Solar receives from our new clients. At the same time, customers need to know how much they can expect to save on electric bills. Thanks to $0 down financing and affordable electricity, most homeowners and businesses find the financial benefits of solar energy far outweigh their investment.

Upfront Costs

Vision Solar takes numerous factors into account when determining your solar panel cost. The amount of sunshine your location receives, the expense of necessary building permits, and the size of your home are just a few. You’ll also need to factor in any necessary repairs to your roof or property before the installation of a solar panel system.

The size of the system and how much power you need to generate will be the biggest factors in determining the price of your installation. Here’s the average price you can expect to pay – before tax credits – for systems of the following sizes:

  • 2 kW – $5,980
  • 3 kW – $8,970
  • 4 kW – $11,960
  • 5 kW – $14,950
  • 6 kW – $17,940
  • 7 kW – $20,930
  • 8 kW – $23,920
  • 10 kW – $29,900
  • 12 kW – $35,880
  • 15 kW – $44,850
  • 20 kW – $59,800
  • 25 kW – $74,750

Currently, the average solar panel cost per watt is $2.99, over 2% less than in 2018. As solar systems evolve, this amount may continue to decline. If you need more information about your energy demands and costs, Vision Solar will provide a free quote to help clarify your requirements and meet your budgetary concerns.

A Host of Savings

After the initial costs associated with your solar panel installation, you’ll soon notice the difference in your utility bills. Whether you choose solar panels that generate heat, electricity, or both, your monthly cost should equate to $0 – as long as your system is efficient enough to cover all of your home’s energy needs. These energy bill savings will extend far into the lifespan of your solar panel system as well, with homeowners in many states experiencing 20-year savings of over $20,000.

Residents who install solar panels may also take advantage of the Federal Residential Renewable Energy Tax Credit until December 31, 2021, as well as waived fees, property tax exemptions, cash-back programs, and other incentives offered by their state of residence. These include up to 57 different incentives for New Jersey residents and up to 68 incentives for Pennsylvania homeowners. To learn more about exemptions and your eligibility, visit the Database of State Incentives for Renewables and Efficiency online.

$0 Down through Vision Solar

If you’re still concerned about the cost of solar panels, remember that Vision Solar will install your solar system for $0 down – something not many other installers can promise. We’ll work with you to determine a financing plan that best fits your budget, so you’ll get the clean, reliable energy you deserve at a price you can afford. For more information, contact Vision Solar today or chat with a representative online.