Whether you buy a system or lease it, going solar is one of the best ways to save on electricity bills. That said, the financing option you choose influences a number of factors, including the costs, maintenance responsibilities, terms, savings, and the return on investment (ROI) of your solar panel system.
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The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. The average EnergySage Solar Marketplace shopper saves nearly $9,000 on the cost of going solar as a result of the ITC.
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With the cost of solar panels dropping every year, there’s never been a better time to go solar. A solar panel installation ranges in cost depending on a number of factors, including your state, equipment brand, and your personal energy use. That all brings us to a key question: how much do solar panels cost? In this article, we’ll break down the cost of solar by system size, state, and panel brand, all of which can significantly impact your final cost of solar panels.
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Since the cost of going solar falls every year, many homeowners wonder: should I buy solar now or wait to save money on installation costs? There are many variables that influence the total financial returns you can expect to see from solar over its lifetime, all of which you should take into account when making your solar decision.
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Installing a solar energy system is becoming increasingly attainable for homeowners across the country as prices continue to drop. Being savvy about where to find the best deals on solar can make your solar installation process pain-free, and lead to maximum savings.
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It probably doesn’t surprise you to learn that the cost of solar varies by state, but what other factors make a solar panel system more or less expensive? If you’re comparing quotes with your neighbors and notice a big difference in cost, it’s probably due to one of five main factors:
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Many shoppers, especially those using EnergySage, receive all of their initial solar quotes online before ever having a company visit their property. Occasionally, we hear back from customers about instances where they received an original, online quote for one price and, after a site visit from the installation company, the price increased. What happened?
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Over the last decade, the costs of solar have decreased from over $8 per Watt in 2009 ($/W) to under $3/W in 2019 on EnergySage, a decline of more than 60 percent in ten years. Over this timeframe, a primary driver of the declining cost of solar in the US has been technological improvements in the actual hardware that’s included in solar energy systems: solar panels and solar inverters.
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This week, EnergySage released our ninth Solar Marketplace Intel Report™. The publicly available report provides data on the state of the solar market nationwide and at the state level. In this report, we introduced a number of new analyses, from a direct comparison of EnergySage quote data to installed cost data nationally, to a breakdown of the quality of equipment quoted and installed both on and off the EnergySage Marketplace. A couple of key takeaways are outlined below, and we look forward to your analysis and feedback on the report.
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For the most part, solar panel systems are “set it and forget it,” requiring very little (if any) maintenance over time – but what costs can you potentially encounter after installing your solar panel system? In this article, we’ll discuss four factors that could impact post-installation costs, and what you can do to avoid some of these costs from the get-go.
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