Do you want to save money and go solar?
Solar power is cleaner, greener, and more cost-efficient than ever. In fact, there are about 22 million Americans that use solar panels. Living a greener life means cutting down on your household energy consumption.
A good way to achieve that is through solar energy. But, solar panel installation is costly, and you will have several questions about this topic. You may wonder about the cost of solar panels and how the installation would affect your home.
Keep reading for our ultimate guide on the cost of solar panels and when it makes sense for your home.
What Is a Solar Panel?
Solar panels are devices that convert sunlight into electricity, and it’s made up of cells that contain semiconductor materials, such as silicon. When sunlight hits the solar panel, the semiconductor materials absorb the sun’s energy and generate electricity.
This generated electricity can now be used to power your home and you can enjoy the real benefits of saving money.
Type of Solar Panel
The type of solar panel you choose will affect the cost of your system. The most popular type of solar panel is the photovoltaic (PV) panel, which converts sunlight into electricity. PV panels are the most expensive option, but they are also the most efficient.
Thin-film panels aren’t as efficient as PV panels, but they are less expensive.
Size of the Solar Panel
It’s important to consider the size of your solar panel when deciding to switch to solar power. A standard solar panel is about 4 feet by 2 feet, but the size of the panel will vary depending on the power output. The cost of a solar panel will also increase with the size of the panel.
It’s important to find the right balance of panel size and cost to ensure you’re saving money from the benefits of solar panels.
Warranty of the Solar Panel
Before you install solar panels, it is important to understand the warranty of the solar panel. It is around 25 years, although some manufacturers offer warranties of up to 30 years. Solar panels are covered by a warranty for defects in materials and workmanship.
However, the warranty does not cover damage caused by weather, animals, or other external factors.
Cost of Installation
Solar panel installation is around $18,000, but this will vary depending on the size of your home and the number of panels you need. Fortunately, there are many financial incentives available to offset the cost of installation, including tax credits and rebates.
Solar panels have a payback period of 4-5 years, making them an excellent investment for the long term.
Learn More About the Cost of Solar Panels
Installing solar panels in your home can be a great way to save money on your energy bill. It’s essential to know the type, size, warranty, and cost of installation. What are you waiting for? Use this guide to know the cost of solar panels.
Read more from our site for some helpful tips and guide like this one.
