One of the first things most people consider when investing in rooftop solar panels is the cost. However, determining the exact cost of your solar rooftop panels can be a bit tricky. Cost can vary based on your location, the number of solar panels needed and a variety of other factors. That’s why it’s important to only work with a reputable solar panel installation company. A professional solar panel contractor can offer you a good estimate and answer any questions you might have about solar panels.
While this form of alternative energy can sometimes be expensive, there are some loan options available. You’ll also find that most states offer incentive programs for solar panel installations. Read on for more information on the cost of solar rooftop panels as well as financing options.
On average
As mentioned above, there are a lot of factors that go into determining the cost of solar panels. The average cost of solar panels across the country is around $12,000 after tax incentives, although the range may be anywhere from around $5,000 to upwards of $40,000, depending on the particulars of your system.
There are several other things that may factor into the total cost of your solar panel installation as well, including labor costs, permit fees and inspection fees. That’s why it’s important to discuss things thoroughly with your solar panel contractor.
Loan options
Those who can’t afford to pay for their rooftop solar panels all at once should consider a loan option. Many solar panel companies offer loans to cover their products as well as installation services. Just like with any other loan, you’d simply have to pay back the solar panel loan over an agreed-upon period of time. It’s important to thoroughly discuss the financing options available from any solar panel company you’re working with. You don’t want to get into a contract and wind up being unable to afford the monthly payments.
Since they are good for the environment, the government offers several programs to help finance solar rooftops for businesses and homes. The PACE (Property Assessed Clean Energy) program, for example, allows homeowners to finance their solar panels via their property taxes. Many states also offer rebates and cash incentive programs for those who have installed solar panels on their homes.
Paying upfront
It’s usually best to pay for the solar panels and installation fees upfront if you can. Doing so can help you avoid any interest fees. Paying upfront also takes away the burden of having another monthly bill. The best thing about paying your bill upfront is that you can go ahead and start claiming tax incentives after installation.
While solar rooftop systems are often expensive at the outset, they’ll end up saving you plenty of money in the long run. Not only will you have an excellent tax credit, but solar panels also help save tons of money on energy bills. Most people find that solar panels are worth the cost. If you’re interested in learning more about this alternative energy source, contact Aneva Solar today for an estimate.