Solar panels used to be an oddity; they were the exception rather than the norm, but that has changed, and these days many people are researching their possibilities and looking for expert electricians and solar professionals on these matters.

Most people want to know more about the efficiency of solar panels, especially concerning their energy bills! They want to know about the price of installation and the cost of maintenance as well as how much they can expect their bills to drop.

If you are considering installing solar panels in your home, here are some key facts which should help you to make up your mind.

How much are solar panels?

Prices vary state by state. In addition to this, the size of the panels you would like will also affect the cost. The more you need, the more expensive the cost of installation.

On average, the price for solar panels is between $2.87 and $3.85 per watt. A complete system is generally around 5 kilowatts, and that can come in at a hefty $16.800, before tax credits.

It is not cheap at first glance, but you need to consider the overall savings you are going to make. Bear in mind that government incentives can also reduce your costs, so it is worth looking into what’s on offer.

How can I spend less on my solar panels?

Let’s imagine that you live in Austin, Texas and want to install a decently sized 6-kilowatt(KW) solar system. That will come to around $13,500…a significant amount!

However, Austin’s rebate will cut your costs by $0.50/watt in your system, up to 50% of the total installation cost. In a 6KW system, this would equate to $3,000.

Based on the federal solar tax credit, you will receive a 30% rebate off the top of your residential solar system installation. Some homeowners might even be able to shave off 50% off the top of their costs because of their eligibility for various rebates and incentives. Just as utility costs vary state by state, these incentives can also vary state by state. Check local and federal government incentives before you order!

How much can you save by installing solar panels?

Cutting bills is the primary incentive when it comes to installing solar panels, and once you add up the figures, you will see that you can save a lot on a monthly basis.

The average price people in the U.S. pay for electricity is about 12 cents per kilowatt-hour(kWh), with a typical U.S. household using around 908 kWh/month or an electricity bill of $110 per month.

A typical 5KW system can produce 594kWh/month, meaning that on average each household with a solar system installed will reduce their monthly electricity bills by approximately 50%.

As solar panels grow in popularity, the prices are becoming more competitive which means savings grow…and of course, that is a real draw card for most people.

Should you decide to move and are afraid of losing out on your investment in the solar panel system, the value of this and any potential future savings should result in an increased asking price as an environmentally friendly house are more appealing to customers, ensuring you still benefit from the installation.

Is my property suitable for solar panels?

Some of the main points to remember are that to make solar panels pay for themselves; you need a decent amount of sunlight. Is your state sunny enough to make solar panels work?

Are there any large buildings or other structures near your property which might interfere with the way your panels work?

Speak with the professionals before you make a decision, and you could be on your way towards saving a significant amount of money!