What Do Solar Panels Cost?
Considering adding solar panels to your home or business? Often times, the first question is, “How much is solar going to cost me?” Unfortunately, that is not a question with a simple answer as there are a variety of factors that must be considered when sizing and pricing a solar energy system. The good news is, the cost of solar has gone down significantly and is more affordable than ever. Let’s review how our professional Energy Consultants at Sun Solar calculate your price for going solar.
What can impact the price of your solar energy system?
Not every home or business is the same, and our solar energy systems are custom built for each homeowner’s specific needs. Therefore, the cost to go solar will differ from homeowner to homeowner. Let’s discuss the steps that Sun Solar’s professional Energy Consultants take to determine the cost of your custom solar energy system.
- How much power does your home consume? In order to properly design a solar energy system for your home or business, we must first understand how much energy you use each month. To do this, a professional Sun Solar Energy Consultant will request copies of the past 12-months of electric bills.
- What kind of solar energy system do you need? The next step is to determine what type of solar energy system fits your needs and where it will be located. The most common place to put solar energy systems is on the roof, however, we will first need to ensure that you have an appropriate amount of south-facing roof space that is clear of trees or other objects that could shade the solar panels. We are able to place solar energy panels on East or West facing roofs if we need additional space.
If the roof is not an appropriate place to put the solar energy panels, or if you desire a different type of mount, we can look at building a solar ground mount. To do a solar ground mount, the Energy Consultant would again need to identify a spot on the property that allows us to build this structure and be free of large trees or other objects that may block the solar panels from getting optimal sunlight.
- How many panels do you need for your solar energy system? Now that we have an idea of how much energy you consume annually and where the best place to put your solar energy system is, we can determine the total number of solar panels you will need in order to produce the energy your home consumes. Our team of professional designers and engineers will build you a study that shows exactly where your solar energy system will be placed and the estimated kWh it is designed to produce.
- Do you want battery storage?If you decide that you want to decrease your reliance on the grid even more, you will need a solar battery. A solar battery, such as Tesla Powerwall, will add to your total solar energy system cost but will help increase the savings you see from solar. Rather than sending excess energy back to the grid, you will instead charge your battery with excess solar energy during the day that can then be discharged in the evening or utilized in the event of a grid outage.
- Get your solar quote! Now that we have assessed how much energy you are consuming, determined the number of panels that you will need, identified what type of solar mount you would like and where we can put your solar energy system, and determined if you would like to add battery storage, we can answer your question as to how much it will cost you to go solar. Our professional Energy Consultants will also be able to help you identify approximately how much solar will save you over the lifetime of your solar energy system.
Are There Financial Incentives Available For Going Solar?
Great question – and the answer is yes! Not only are some electric companies, such as Ameren, KCP&L and Empire/Liberty, offering solar rebates, but many can also qualify for a 30% Federal Tax Credit. By taking advantage of solar rebates and tax credits, you can help cut down your solar panel costs.
Here is the deal though, if you plan to use these programs, the time to act is NOW. In 2020, The Federal Tax Credit will drop from 30% to 26% and will continue to drop until it is 0% for homes and 10% for businesses after 2021. As for the solar rebate available to Empire/Liberty Electric customers, these are first come, first served rebates and there are limited funds available. In 2018, customers going solar were paid $.50/watt from Empire/Liberty Electric. So, if they purchased a 10kW system, they would see a rebate check from Empire/Liberty Utilities for $5000. In 2019, however, that solar rebate has dropped to $.25/watt. So, on that same 10kW system, an Empire/Liberty Utilities customer will now get a rebate check for $2500 – still a great refund from your electric company!
So, as you can see, 2019 is the time to go solar and maximize your savings with the solar rebate and 30% Federal Tax Credit before they drop.
*Sun Solar employees are not tax professionals and therefore recommends you check with your professional tax advisor to see if you qualify for the Federal Tax Credit*
So, are you ready to invest in solar?
You can calculate your savings immediately using our solar savings calculator. If you have more questions, feel free to leave us a message and we’ll get back to you as soon as possible.