Solar power is a sustainable solution to rising energy costs, but one of the first questions homeowners ask is, “How much does it cost?” Understanding the average cost of solar panels and installation helps you make an informed decision about going solar. This article breaks down the costs and highlights ways to make solar more affordable.
What Is the Average Cost of Solar Panels?
The cost of solar panels has dropped significantly over the last decade, making solar more accessible than ever. Here’s a breakdown:
- Per Watt Cost: The average cost of solar panels in Texas ranges from $2.31 to $3.13 per watt, slightly below the national average of $2.85 per watt.
- System Size: A typical 5 kW solar system costs between $11,560 and $15,640 before incentives.
Affecting Solar Panel Costs Several factors influence the final cost of your solar installation:
- System Size:
- Larger systems require more panels and materials, leading to higher costs.
- Tip: Conduct an energy audit to determine the optimal system size for your home.
- Panel Efficiency:
- High-efficiency panels cost more upfront but provide greater long-term savings.
- Installation Complexity:
- Roof type, shading, and angles may require additional equipment or labor, increasing installation costs.
- Permits and Inspections:
- Local regulations may add to the cost but are essential for compliance and safety.
- Federal Solar Tax Credit: Covers 30% of the installation cost.
- State Incentives: Texas offers property tax exemptions for solar installations.
- Net Metering: Earn credits by selling excess energy back to the grid.
- Solar Loans and Leases: Spread the cost over time with financing options tailored to your budget.
Don’t let upfront costs hold you back—financing options make solar accessible for everyone.
- Energy Bill Reduction: Homeowners save thousands of dollars over the system’s lifetime by reducing reliance on the grid.
- Increased Home Value: Solar panels boost property value and make homes more attractive to buyers.
Resources
- EnergySage
- U.S. Department of Energy (DOE)
- Solar Energy Industries Association (SEIA)
