Today, over 40% of American homeowners are considering installing solar panels on their homes. Not only is solar energy greener, but it also saves money. So it’s not such a mystery why Americans are choosing solar!

However, we do have to admit that it can be a costly project to take on.

So how much will it cost you? What affects the price you pay?

Here’s a quick guide to solar panel installation and its costs.

Solar Panel Installation Costs

The average solar panel installation cost in the US is around $12,000, which the lower end of the spectrum being $5,000 and the higher end being $40,000 or more!

To narrow down the price for your situation, let’s take a look at what can drive the price up or down for you.

The Type of Solar Panel System

There are 3 types of solar panel systems: grid-tied, grid-tied and energy storage, and off-grid. Most homeowners choose grid-tied because it’s the most affordable option.

However, don’t discount off-grid just yet. While an off-grid system will cost you the most, it’ll also save you the most in the long run.

Where You Live

In general, solar panels will be more expensive per watt in colder states. However, colder states will also require smaller solar panel systems.

So in terms of your location, it won’t matter too much when it comes to prices because it pretty much evens out across the board.

Your Roof

Simple roofs that are sloped at a 30-degree angle will get you some of the cheapest installation prices around since these are the easiest to work with. But if you have things like dormers or skylights, the installation will cost you extra since the installers have to spend extra time working around these things.

The Solar Panel System Size

Your solar panel system size will depend on the above 2 factors. Obviously, bigger solar panel systems will cost more, but do know that you’ll usually get a bulk discount if you get a bigger system. Also, keep in mind that you’ll save more money in the long run with a bigger system, so opt for one if you can.

The Solar Panel Manufacturer You Use

This isn’t an area where you want to skimp; you’ll get what you pay for. So while those cheap, no-name solar panels look attractive to your wallet, spend a little more on quality brand-name panels instead, like SunPower.

The Company

The solar installation company you choose will set their own prices depending on how saturated the local market is. If you’re lucky, the prices will be very reasonable since there are many competitors in the area. Otherwise, you might have to pay a bit more if there are only a few companies around.

Go Green With Solar Energy

Now that you’ve learned a little bit about solar panel installation and what can affect the costs, we hope that this has you feeling more confident and gung-ho about it. So speak to a solar panel company today to get started on your green and eco-friendly project!

To learn more about how to install solar panels, read our other blog articles now.