Solar panels are a great way to save on utility costs while increasing the value of your home.
But many homeowners are wondering…
How much will solar panels cost me?
If you’re thinking about installing solar panels but are unsure of the costs, keep reading for a closer look at the average cost of solar panels per square foot.
Why Install Solar Panels?
Before you take a look at the cost of solar panels, it’s important to understand why you may want to install them in the first place.
While many homeowners install solar panels because of environmental concerns, adding solar panels can also save a bundle on monthly utility costs and add value to a home.
Your monthly electricity savings will ultimately depend on your home and energy usage. But, with the typical American household spending more than $1,800 on electricity alone throughout the year, even a few solar panels can begin to save you money right away.
Solar panels can also help increase the value of your home. A recent analysis found that homes with a solar power system were on average worth 4% more than homes without.
These are just a few of the many benefits of adding solar power to your home.
What’s Included in Solar Panel Costs?
The costs associated with most solar panels include installation, any equipment needed to integrate solar power with your home, and the necessary permits.
Since there’s more to solar power than just panels and sunlight, it’s important for homeowners to understand everything that’s needed to get your home up and running with solar power.
The Average Cost of Solar Panels Per Square Foot
Every home is different. This means that every solar panel installation will also be different. The panels and hardware that work for your neighbor’s home may not work for your own.
Much like other facets of your home, there’s really no one-size-fits-all approach to solar panels. So, if you’re wondering what the cost of solar panels will be for your 2,000-square-foot home, you may want to adjust your thinking slightly.
The cost of most solar panel installations is determined on a kW or wattage basis, rather than a square footage basis.
With the average American home now coming in at around 2,600 square feet, most homeowners will need a 5,000-watt solar power system.
At an average of around $3 per watt, the cost to install solar on a typical American home will come in at around $20,000.
Thankfully, federal and state tax incentives can cut this cost down significantly — making solar power an even more worthwhile investment.
Still thinking about adding solar power to your home?
Remember to keep the number of watts your home will need in mind — not just the cost of solar panels per square foot.
To get a better idea of how much money that going solar can save you, get in touch with us today for a free solar quote!
e value?” Well, short answer: yes. But how greatly they can increase your home’s value can depend on a number of factors like where you live and the size of your installation.
Curious how much your home could be worth after installing solar panels? In this article, we’re covering everything you need to know about installing panels. Including how much they can increase your home’s value by, and the things you need to know before installing them.
What You Need to Know About Solar Panels
Did you know consumers are becoming more and more concerned about climate change and their carbon footprint? In fact, 68% of electric power buyers have expressed concern about this issue, as well as interest in greener energy options.
But what many homeowners are starting to realize is that installing solar panels can actually impact your home’s resale value. Although by how much can vary depending on a variety of factors.
Where your home is located as well as whether or not it’s in an environmentally conscious community can greatly affect the impact of solar panel installation. The local price of electricity and the amount of energy generated can also determine the overall value add of an installation.
The average solar panel system size is roughly 6 kilowatts, which means that a standard system would cost you about 12 thousand dollars. While that may seem expensive, the cost of solar panel systems has dropped over the past few years, most likely due to the growing popularity of it.
The cost of solar panels generally depends on how large your home, and how much electricity you’re looking to generate. Bigger systems cost more because they require more equipment and labor effort to install it.
It’s important to know, however, that there is a federal solar tax credit that can reduce the cost of your system by as much as 30%. And many states will even give you a rebate and tax incentives for installing a system.
Prices can vary greatly depending on where you live, and it’s hard to determine how much a solar panel will cost before speaking with an expert. So, if you are interested in installing solar panels, reach out to an expert electrical company.
Do Solar Panels Increase Home Value?
At first glance, you may be wondering if installing a solar panel system is worth it given the price tag. But research has shown that installing solar panels can greatly increase your home’s property value.
In fact, it’s reported that on average that your resale value is close to $6,000 for each 1 kilowatt installed. The increase can depend, however, on factors like where your home is located and how big it is. States with active solar markets yield higher returns, and larger homes generally see a bigger return of investment.
For many potential buyers, a solar system represents a home upgrade just like an added room or renovated kitchen. Solar panels can also be more cost-efficient than other electrical options, which can be enticing to potential buyers.
And beyond that, solar panels represent a commitment to clean energy alternatives, which is becoming increasingly important for all Americans.
Ready for Solar Energy?
More than ever before, clean energy matters. So, why not invest in clean energy efforts that will reward you and your wallet? Now that you know, “Do solar panels increase home value?” you can see that installing panels for your home is the best decision.
Looking to install solar panels? Need expert assistance? Contact us to get started!