How Much Do Solar Panels Cost?

Alright! So let’s harness the sun and generate some electricity!

So how much are these solar panels going to cost you?

Courtesy of Department of Energy Solar Decathlon

Well, a quick search of the internet on places like Yahoo! Answers is going to reveal that solar panel’s prices vary from about $6-$12 per watt. (That places the price of a 1 kilo-Watt solar installation at about $12,000)

But a quick internet search at some solar panel manufactures’ reveals that solar panels actually cost closer to the $5-$6 mark (per watt). With some astute shopping you can even find them advertised for half that much! (Here’s some preassembled solar panels for about $4.50 a watt on Amazon.)

Determining the price of a solar installation?  There’s more to it than just the panels!

Many people are seeing that it may take anywhere from 8 to 20 years to recoup the cost of their solar investment when you consider how much they currently pay for electricity and compare that to the price they pay for a solar installation.  (Higher grid-electricity costs result in faster payback .)

Solar panel’s price may be off-set some by the value they add to your home.  It seems that homes in California are noting an increase in value by about $5.50 per watt installed.  In addition to the added value, these solar-equipped homes may sell faster.

Factors Affecting Price Of Solar Installation

But there are several factors involved in calculating the cost of solar panels.  The end price of your solar installation depends primarily on these factors:

• The Daily Amount Of Sunlight Your Area Receives
• How Much Energy Your House Needs

The amount of exposure to sunlight is very important.  For example, if you live further north, you may receive less sunlight, and need more panels to do the same amount of work.  I give those calculations an in-depth treatment — including means for calculating your own energy needs — in our “Free Report! – Costs of Installing a Solar System”.

But here’s one quick pointer to get you started.

Your energy needs.

First of all, how much energy do you need? Installing items such as a hot water heater cut-off switch and LED lights or fluorescent lights can significantly lower your energy requirements.

Now, your electric company normally measures your bill in Kilo-Watt- Hours (kWh). If you used 1,000 kWh in a month, then that would be approximately, 33 kWh per day. Or, 3,300 watts per day.

So from there, the math is pretty straight-forward. If you are buying your panels on Amazon, you will probably need about $15,000 to get started. Oh, and here’s a complete 2.7 Kw home solar system for under $12,000 :Grape Solar GS-2760-KIT Residential 2,760 Watt Grid-Tied Solar Power System Kit

Before you buy your first set of solar panels, stop by our Free Report to read about how much Sunlight your region is likely to receive. This will help you obtain a more accurate indication of your true solar needs.

You can also build homemade Solar panels yourself using cast-off solar cell parts and save a significant amount of money.  This instruction kit is an excellent investment in your solar education if you are looking to keep more money in their pockets while still realizing your dreams of clean energy.