Solar panels are great, modern devices to improve the energy-efficiency of the building they are installed on and to reduce the building’s dependence on energy provided through the grid, but they are also solutions that require a substantial initial investment on the side of the owner. Here is what you can expect of the installation phase in terms of investment:
- The average national solar panel cost is around $3.14/watt, which is more than 6 percent lower than the average costs incurred by solar panels of the same capacity a year ago. The process of price decrease is likely to continue in the future, too, making solar panels an increasingly attractive solution for homeowners as well as for business owners;
- The size of the investment that you will have to make will depend on the state where you want the installation to take place and on the amount of energy that you want your solar panels to generate – the price of solar panels varies from one state to the other and if you want to use the panels to supplement the energy that you get from the grid, your costs will be obviously lower; Check out the installation cost of solar panels in Colorado.
- Property owners who decide to install solar panels on their buildings are eligible for tax credits that further reduce the costs of purchasing and installing the panels.