How Much Do Solar Panels Cost? Installation + Maintenance – Savings

How Much Do Solar Panels Cost? Installation + Maintenance – Savingshow-much-do-solar-panels-cost
You want to know how much do solar panels cost, but you need to weight in several things besides just the actual cost of solar panels. Let me break down and do an analysis for you on the real answer to how much do solar panels cost:

Installation and actual solar panels
Installation of your solar panels depends on how much watts per solar energy the panel can convert and also on how much energy you need for your home. Typically, the prices range from $4 to $9 per watt of solar energy. The average price is about $7 a watt.

Let me do the math for you, you’ll also need the solar panels, inverter box, and wiring plus installation. It can range from $8,000 to about $80,000 depending on a number of various factors such as how much sun your house gets.

But let’s make it easier, I found that the typical American average household with a single-family home would need to spend $50,000 on a solar panel kit professionally installed.

Maintenance and Repair
Let’s also take in consideration the maintenance and repair when we figure out how much do solar panels cost. It’s actually not too bad unless you purchase from a company that’s not very reputable. It can run about an average of $2,000 for the lifetime of your solar panels. Some companies may offer some sort of guarantee, but who know how long that company will be in business.

Savings and Tax Rebates
The reasons why you what to know how much do solar panels cost and why you want them installed is to save money on your electric bill. You also may even get tax rebates and credits from the state or federal government. The average tax rebate and credit is about 50% of the total cost of the solar panels and installation.
There are 2 more factors we can look at in terms of savings: electricity bills and home value.

With energy rate increases likely to happen year after year, your system will likely pay off in about 10 years. The average lifetime of solar panels is 40 years, so your investment will reap about 3 times the initial cost. The only problem is that it’ll have to take almost half a century to do so.

Also with decreasing energy costs, your home value will increase by about $5,000 every year depending on how much energy is being decreased.

How Much Do Solar Panels Cost?

So to answer our original question: How Much Do Solar Panels Cost, let’s do the math thus far:
$50,000 for the original installation
Subtract tax credit savings (will need to wait a few months to get credit)
-50%
= $25,000
Plus maintenance and repair
+$2,000
How much do solar panels cost?
Total cost of solar panels
= $27,000

It will take 10 years for the solar panels to pay off. That’s when we’re expecting savings of about $2,700 a year.

Most people do not want to put the $27,000 down upfront because it is a lot of money. Granted, it is a lot of money. There is a solution that can give you a head start into solar energy. You can build do-it-yourself for only about $190. I did it myself as a weekend project and I didn’t even need expensive silicon panels!
I’ll show you how I did this in the next page. I wrote a special guide for you to see. Continue on reading…

Click Here to continue reading my guide on how I built my own do-it-yourself solar panels