A Guide to Finding Cheap Solar Panels for 2022

How to get affordable solar panels

how much is the average Solar panel installation costIt usually costs an average of $16,000, or $3,500 to $35,000 depending on the model and type.? Factors that affect the final bill include materials used in the solar panel, installation costs, solar panel company, tax credits received, location, etc.

Use the recommendations below to find the most affordable solar panel options.

Research multiple types of panels and manufacturers

The first step is a survey of common types of solar power. residential solar panelsincluding polycrystalline, monocrystalline, and thin film solar panels.

  • Polycrystalline: A polycrystalline solar panel has a blue cell made up of multiple silicon crystals fused together. It’s a little less efficient than other types of solar panels, but it’s affordable. Average installation costs range from $0.91 to $1 per watt. they usually energy efficiency 15% – 17% rating.
  • Single crystal: A monocrystalline module made of pure silicon contains a single silicon crystal made into a cylindrical ingot. Installation typically costs an average of $1 to $1.50 per watt. They are usually the most energy efficient compared to other types of panels.
  • Thin film: This type of flexible panel is typically used for off-grid applications and has a thin film of photovoltaic (PV) material on the substrate. Thin-film solar cells thinner than a human hair fall into his three classes: amorphous silicon (A-Si), cadmium telluride (CdTe), and copper indium gallium selenide (CIGS). Installation typically costs an average of $1 to $1.50 per watt. This technology is less efficient than crystalline solar panel systems.

Different solar companies use different pricing strategies. Compare multiple types of panels and several different manufacturers to find the best affordable solar panel for your budget, including inverter pricing. Inverters convert direct current (DC) to alternating current (DC).

Collect quotes from multiple installers

Next, collect installation quotes from several installation companies. Certain installers may be cheaper than others due to certain factors such as overhead costs, system design, quality of equipment used, warranties, and other factors.

Comparison of features and benefits

Achieving a low price is important, but it’s a good idea to consider other factors when purchasing solar panels. Before purchasing, please check the following:

  • Energy efficiency: Energy efficiency refers to how a photovoltaic (PV) cell’s efficiency converts the energy radiated into the PV device into usable power. The more efficient the solar panel, the better the energy output and savings you will incur as a homeowner.
  • Wattage: Wattage refers to the amount of solar power a panel produces. The higher the wattage rating, the more power the solar installation will produce. You can expect a typical output of 250-400 watts, depending on the panel size.
  • guarantee: Most solar panel manufacturers offer some sort of warranty, such as a 25-30 year linear performance warranty or a product warranty that lasts 15-25 years. Consider finding an option with at least a 25-year warranty. A long-term warranty is required as solar loans can have a lifespan of over 25 years.
  • quality: Inexpensive home solar panels are likely to be of lower quality and less efficient, so you may need to replace the “cheap” panels more frequently.

Bulk buying

Some manufacturers or retailers may offer special discounts for homeowners ordering large numbers of solar panels. Consider working with neighbors and family to buy enough panels at a discounted price.

Consider leasing instead of buying

You can lease or buy solar panels. Leasing a residential solar power system means you don’t own the panels on your roof and pay a monthly fee to use the panels. Exchange electricity bills from power companies for discounted rates from solar leasing companies. Leased panels allow readers to pay directly. solar energy created by their system. Leases are typically for 20 years, and you may be able to purchase the solar system at a discounted rate at the end of the lease.

Advantages of solar leasing:

  • Reduced initial cost: You may be able to install panels in your home for little or no money. Payments may be reduced if panels are not produced as expected.
  • No need to buy installers and funding: There is no need to purchase installers and funding separately.
  • Insulating rising energy costs: Solar leasing saves you money on electricity bills from your utility company, which helps prevent rising energy costs.
  • Useful if it’s not your forever home: If you’re not living in a “forever home,” you’re not making a full purchase investment and will only be paying the lease payments until you move or terminate the lease.
  • Maintenance-free: No equipment to maintain or monitor.

Cons of solar leasing:

  • No incentive: You don’t own a panel, so take advantage of federal or state incentives like tax credits and rebates.
  • Home values ​​don’t go up: Solar panels don’t add value to your home because you lease it instead of owning it.
  • Breaking a lease can be difficult. If you decide to sell your home, you may struggle to purchase a lease early.
  • It may cost more: Compared to buying solar panels, leasing solar panels usually costs more in the long run.
  • Component has no choice: The leasing company selects the brands they receive. You cannot choose the quality of the components in your system.
  • Long term contract: Leases often start very long term contracts. That means he will make monthly payments to the provider for 15-25 years.
  • Escalator Terms: The escalator clause means more payouts and even less savings.

Check out our solar panel incentive program

Several state and federal agencies offer solar panel incentive programs to homeowners.

  • America’s Rural Energy Program (REAP)
  • renewable energy subsidy
  • Residential energy credit
  • investment tax credit
  • Solar Renewable Energy Certificate (SREC)

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