How Much Did You Pay For Solar Panels

What you ll pay for solar panels varies by your state and the size of the solar panel system.

How much did you pay for solar panels.

If your solar panel system is big enough to produce enough energy for all of your needs you can reduce that 120 bill to roughly 10. To sum it all up your electric bill after going solar is dependent on several variables which may vary depending on location. Data from the energysage solar marketplace shows that in 2020 solar shoppers who compare their options in the marketplace can achieve payback on their solar investment in about 8 years. Moreover with a grid connected home solar system what the electric company does see is how much excess electricity your solar installation gives to the grid.

Eventually your system may produce enough power that the utility company will owe you money instead of the other way around. For instance in new york the price of solar panels is 12 264 16 044 for a 6 kw system for a residential home. Energy sage has a helpful list of average solar panel price ranges by state. The homeowner in our example will either need to pay cash or take out a solar loan for around that amount.

That cost is before any tax credits. How comparison shopping can improve your solar panel payback period. In certain circumstances an electric company pays for solar energy if their customer uses less energy than they generate from their solar system. If you use gas your solar panels won t cover the gas portion of your utility usage so you ll still need to pay for that as usual.

With installation an average residential 5kw size system costs between 3 and 5 per watt according to the cse which results in the 15 000 to 25 000 range. As of june 2020 the average cost of a 6 kw home solar system is about 3 20 per watt or 19 200 before incentives. Just like leasing a car you pay a monthly fee and a solar leasing company puts your panels on the roof. Solar incentives rebates and the federal tax credit.

The solar leasing company services them and you receive the energy they produce while saving on your electric bill. Comparing quotes from multiple solar installers can actually help you go solar with a shorter payback period than the national average. Simply put the more energy you want to generate the more solar equipment you ll need to get. Homeowners who want to go solar with 0 money down and as little hassle as possible.

Electric companies determine how much power a customer has used over the course of a year.