RESIDENTIAL SOLAR PANEL COST IN 2022
How does solar provide massive savings?
The purpose of Solar and the programs offered are meant to save you money from day 1.
Solar energy is great for the environment, and it comes with amazing financial benefits:
– You can trade a bill that has nearly doubled in recent years to a new solar energy plan that’s on a flat rate that never changes.
– Solar protects you from utility rate increases and inflation.
System sizes and costs for each project is different for everyone. Our techs must have prior information to create your custom report.
- Energy Consumption – How much power do you need?
- Utility Company – We can find out your current utility rates.
- Sunlight Exposure (Roof) – Our engineers will examine your roof and sun hours to create an accurate design for your project.
- City – Let’s see what tax credits, rebates, and incentives are offered in your area.
1. ENERGY CONSUMPTION: HOW MUCH ENERGY DOES YOUR HOME USE?
We use power for everything and its a primary resource we depend on. Since electricity will always be required in your house, why not plug in and take your chips off the table?
Energy prices like everything else is controlled by investors and is exposed to frequent rate increases. Once we figure out how much energy you use, you can join a plan to lock you in below your current energy plan.
So, how much energy does your household use? We will help you break down the usage graph on your electric bill during the meeting with our team so we can create a custom plan for your home at a protected discounted rate.
2. UTILITY COMPANY: WHO ARE YOU RENTING FROM?
Yes, electricity prices are rising. It’s predicted that U.S. electricity prices will gradually rise to an average of 14.36 cents per kilowatt-hour (kWh) moving forward. This last year prices
Whether it’s natural disasters or the power grid’s ability to keep up with electricity demand, all of these factors could cause a rise on your electricity bill. In recent news, current electricity rates worldwide have been showing signs of instability.
Typically, electricity prices vary by state. A few states have prices that are well above the national average like Florida and California. However, some states are well below. It’s helpful to understand your electric company’s net metering standards. Your location and the electricity rates will have an effect on how many panels you need.
3. SUNLIGHT EXPOSURE: HOW MUCH SUNLIGHT DO YOU NEED FOR SOLAR PANELS?
The Sun needs to hit your roof for the panels to produce power so let our experts run a diagnosis of your sun hours to see the best results:
- Roof Tilt: Our team will test the angle of the roof to calculate sun hours.
- Roof Direction: South and West facing roofs have the highest output, but If your roof doesn’t south face, we will create the most optimal design for your home.
- Shading: Although most people have a tree or two in their yard, we know your trees are important to you. If needed, we can provide free tree trimming, this is great because we are able to keep your tree healthy and get the best results from solar.
4. PRICE OF EQUIPMENT AND INSTALLATION: HOW MUCH DO SOLAR PANELS COST?
Typically, solar is paid for through our $0 down financing program. Most clients use this option because of the amazing terms and incentives.
For example, if your current Summer Bills are $300 and your Winter Bills are $200, your yearly average is $250/month.
Solar in most cases will replace that bill with a $179/month protected flat payment that’s grandfathered in for 25 years. After 25 years your electricity is free since solar has an end date, unlike with your utility bills.
Your savings are compounding every year as rates increase.
The best part is that this payment is completely transferrable to new homeowners if you ever decide to sell your house and solar has No Pre-Payment Penalties.
5.INCENTIVES: ARE SOLAR INCENTIVES AVAILABLE IN 2022?
Solar incentives are available in 2022, but keep reading to find out what that might mean for you.
Solar incentives definitely should be factored into the cost of going solar. It’s up to your solar company to take into account any available incentives that can help you cover the cost of solar panels.
A big solar incentive is the Federal Solar Tax Credit (also known as the ITC). It could apply a 30% tax credit to any qualified rooftop solar system if installed by December 31, 2032. In addition to the federal solar tax credit, many states and local utility companies also offer solar incentives. For instance, there might be a net metering program available from your electricity provider. Net metering is great because if your panels produce more electricity than your home actually uses, the excess will be rolled back to your utility company. And you’ll be granted some credits on your bill.
For more information about which solar incentives are available in your area, schedule a free solar consultation with one of our Solar Energy Specialists. We’ll help you understand the true solar panel cost as it relates to your home.
WHY WORK WITH OUR TEAM?
There are a lot of factors that could influence your final solar panel cost, which can be confusing. However, the key takeaway is knowing that the price is truly specific to your home and your needs.
The good news is, our energy brokers will take care of you. We will bring you the best offer for your home with the best equipment, warranties, and project management teams in the industry!
We provide the highest level of customer service, so you can rest easy knowing that your solar panel installation is in good hands.