Is it time for you to jump onto the solar bandwagon? The idea makes tons of sense. We live in a wonderful time when you can generate your own energy and sell any excess to your local energy utility depending on your jurisdiction.
In terms of your energy bills, solar energy cost seems very upfront. The upfront cost of solar panel installation can be a bit much, though. What is the cost, and is it worth your while?
Keep reading!
Type of Panel
The cost of solar panel installation varies greatly depending on the type of panel being installed:
Monocrystalline
Monocrystalline solar panel installation costs between $2.30 to $3.25 depending on the size of the system. Generally speaking, the larger the system, the lower the price per watt since larger systems benefit from economies of scale.
Polycrystalline
You can expect to pay between $2.50 – $4.00 or $10,500 – $18,000 for a 4kW system, making it one of the more affordable options when compared to other types of solar panels.
In terms of maintenance, polycrystalline solar panels require minimal to no maintenance for the duration of their lifetime. That makes them a great choice for anyone looking to install a reliable, cost-effective solar energy solution.
Thin Film
Thin-film solar panels are typically the most cost-effective option, coming in at around $3. This is much less than the cost of traditional crystalline solar panels.
However, thin-film solar panels tend to be slightly less efficient than crystalline solar panels, which is important to consider when deciding upon panel type. Generally, thin-film solar panels can last between 15 to 20 years.
Ultimately, the cost of panel installation can range anywhere from a few hundred to thousands of dollars, making panel type an important consideration for those looking to maximize their investment.
Number of Panels Needed
Installing a solar panel system can certainly be a hefty investment, with the cost of installing it depending on the number of panels needed. A larger system may include more panels and roof space, resulting in a higher cost.
For example, a system requiring the installation of just four solar panels on a roof could cost in the range of $3,000 to $4,000, while a system requiring 20 panels may cost up to $15,000 for installation. A full system with battery storage may even require thirty or more solar panels, meaning that the cost could increase to as much as $30,000 or more.
Therefore, the number of panels needed and the location of the installation could contribute to the total cost of a solar panel installation.
Location
Areas with more efficient access to transmitting energy, such as metropolitan regions with more organized infrastructures, may benefit from lower costs than rural or industrial regions. Different climates, geographic locations, and local cost constraints are all factors that will affect the cost of installation.
Rural areas likely incur additional costs for bringing in necessary materials and electricians to complete the job. Regional electricians and or solar panel installation companies in these areas may offer discounted costs for installation.
Each region and local electric code can have different requirements which may bring higher up-front installation costs, but credit for delivered energy for the customer’s use.
Labor
Labor one of the main components of the cost associated with installing solar panels. The Labor often charged at an hourly rate and the number of hours required to complete the job deviates significantly depending on the size and complexity of the solar panel array.
A leading solar installer often charges more than general electricians, but their experience and expertise are often invaluable. Lastly, hiring a professional solar panel company will also factor into the cost of labor associated with construction, as they usually have their own team of installers.
All in all, when considering the cost of solar panel installation, labor is an important factor that should not overlooked.
Per Watt
The cost of solar panel installation can vary greatly depending on the size and scope of the project. Generally, the cost represented in terms of dollars per watt.
For small residential projects, the cost could be as low as $3 to $4 per watt. On the other hand, for larger commercial projects, the cost could be two or three dollars higher—up to $7 per watt or even more.
Roof Pitch
The cost of solar panel installation on a roof can affected by the roof pitch or slope. Low-pitch roofs require more effort and specialized materials to properly anchor the panels.
Less tilting roofs require longer mounting hardware and more specialized equipment. Steep roofs usually require custom mounting solutions. These may include brackets or other accessories, or extra bracing for the photovoltaic array.
In addition, a large amount of labor is necessary to install solar panels on roofs with a pitch of greater than 11 degrees. For these reasons, the cost of solar panel installation on a rooftop can be higher than on a flat surface.
It is important to consider these factors when calculating the total cost of solar panel installation so you can save money.
Securing Permits
Permits must obtained from both state and local governing bodies, in addition to any HOA or other special requirements. Depending on the location, the permitting process can range from simple fill-in-the-blank forms to an in-depth review of the proposed system.
Solar installation companies generally include the cost of the permit in their bid for installation or will charge a nominal fee for the additional paperwork involved. The cost of the permit itself is based on the complexity of the project and the amount of time involved in researching and submitting the paperwork.
Consider a Panel Installation Now
Overall, the cost of solar panel installation depends on a variety of factors, such as the size of your installation, the type of solar panels used, and the labor and equipment needed for installation.
For more information, contact a local solar installer today to learn the exact cost of your project!
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