Why Are Solar Panels Expensive?

why are solar panels expensiveLots of people already know about the numerous benefits of using solar power; however, many are not installing or using this yet in their home because they believe that it is just too expensive for them. Of course, not everyone has plenty of money to burn and most households are living on a tight budget. So why are solar panels expensive anyway? Read on to learn more. 

First of all, it is best to realize that solar power is an investment – a good investment, in fact. It pays for itself over the years and so the money you spend right now is definitely money well spent. Before you know it, the savings you’re getting from using solar power in your household has already paid off the actual cost of materials and installation – even maintenance of your solar panel installation! 

In the United States, the average cost of solar panels per watt range between $2.57 and $3.35. Depending on the size of your solar panel installation in your home, you’re looking at around $11,000 or more per installation. It can get less, of course, if you’re getting a smaller solar PV system for your home.

If you’re looking at DIY installations, a quick search on Amazon will lead you to numerous options of solar panels that cost about $100 – more or less – per 100-watt panel. 

So is solar panel installation really expensive? Truth be told, and if you look at the numbers objectively, it isn’t expensive at all. After all, there’s always your chance to receive solar tax credits and other possible incentives. You can also apply for financing assistance and payment options. 

Solar panels cost quite a bit of money because of the materials used to build them. They are supposed to be tough and durable so they can last for many, many years outdoors – rain or shine. Most solar contractors offer free quotes and estimates. Reach out to your local solar contractor for assistance if you want to learn more about the price of solar in your area.