For most people in the US, solar is a financial decision, and with good reason: in most cases, solar can save homeowners tens of thousand of dollars in electricity costs over the thirty-year lifespan of solar panels.
As much as we focus on the benefits of solar–Avoided electricity costs! Avoided carbon emissions! Thousands in savings! Increased home values!–it’s important, too, to talk about the cost of solar, as well as the factors that can influence the price you pay for solar.
So, how much does solar actually cost. The short answer? It depends.
The longer answer? With Helio Solar Power, the average solar panel system costs between $25,000 and $30,000 prior to incentives and rebates. That figure may sound like a lot of money–and it is!–but just looking at the upfront, pre-incentive cost of solar doesn’t tell the whole story.
Take into consideration, for instance, how much you pay for electricity right now. Compared to a $25,000 cost for solar, an electricity bill of $200 per month may seem low. However, that cost adds up quickly: if you pay $200 per month in electricity, that means you’ll spend $28,000 in the next ten years alone, and over $120,000 over three decades.
Now how does that $25,000 pre-incentive price tag for solar sound?
What’s more, there are a number of incentives and rebates that can reduce the price you pay for solar by a quarter or more, quickly cutting $5,000 or more off the cost of your system.