Is home solar more affordable than paying for utility electricity?

Although home solar is already more affordable than paying for utility electricity, there are a few ways to reduce the cost of your system and maximize your energy cost savings. First, there are solar incentives offered by federal, state, and local governments, in addition to utility providers.

How much does it cost to install and manage solar panels?

According to studies by the U.S. Department of Energy, the all-in cost of a home solar panel system is between $2.74 to $3.30 per watt. 1,2,12 This figure includes the solar panels, the installation, and other expenses.

How much does it cost to clean solar panels?

Solar panels require very little upkeep. If you’re able to clean the solar panels yourself, the only maintenance cost will be the water used to hose them down. If you hire a professional to clean your solar panels, it will cost around $100 to $350, on average.

Does getting less sun increase the cost of solar panels?

While getting less sun at various times in the year does not increase the cost of owning solar panels, it can affect how much you save. More advanced and durable solar panels, batteries, and inverters may cost more upfront, but typically last longer and perform better than cheaper options.

How long does it take for solar panels to pay for themselves?

On average, it takes between nine and 12 years for solar panels to pay for themselves. As the years go by, you may recoup the initial costs of your investment, and then you can continue saving on energy bills.

Can you finance solar panels if you own a home?

That means you’re eligible for federal tax credits, state rebates, and local incentives that can significantly reduce the total cost of your solar panels. If you own a home and have built up equity, using it to finance solar can be a smart move.