Whether installing solar panels is economically beneficial depends on a number of factors. On average, solar panels cost in the range of $13-17,000 once the federal solar tax credit is claimed. This is mostly a one-time investment, and there are solar loans that can spread out the cost. Solar will pay for itself in about four to eight years There are different types of solar systems available. They can be tied to the grid, include a battery backup, or both. The battery is needed to keep electricity when the power goes out, however, it costs more. Note that in addition to the federal tax credit (which is set to expire soon), there are state subsidies for solar. Using our solar calculator lets you calculate cost and savings estimates for going solar in your area.
- Make sure you know how much power you want to use before any planning.
- There are many different types of solar panels to choose from.
- They save money, but it is going to take some time to see the results.
“our solar payback estimator that calculates the economics of solar based on your zipcode and the amount of your current electric bill.”