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Solar Panel Cost in 2022

The cost of solar depends on your location, current power usage and desired monthly savings, among other things. Learn more about the cost of solar below.

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Key Takeaways

  • Solar energy is more affordable and accessible than ever, as demand for renewable energy options increases.
  • Our solar panel systems are customized to each home’s unique energy needs, so sizing and costs may vary slightly between homeowners.
  • Factors that may impact the size and cost of your solar system include your home’s location and climate conditions, your rooftop’s access to direct sunlight, your current energy consumption and more.

How Much Does the Average Solar System Cost?

The average cost of a solar system differs from property to property because homes and businesses consume power differently. Your solar panel price will depend on your current energy consumption, the direction your home faces and the amount of sunlight your roof receives, to name a few. In other words, solar is not a one-size-fits-all option.

For example, the average-sized solar panel installation may be approximately 6,000 watts, but that number will depend on the amount of your energy bill you want to offset with your panels. If you live in the same size house as your neighbor but consume more energy than him/her each month, you may need a higher-wattage solar system to see the same amount of savings.

How is Solar Panel Cost Calculated?

Solar energy is not a one-size-fits-all solution. At Pink Energy, we design your solar panel system based on your routine and energy goals. This means solar system costs may vary between homeowners. To determine the right system for your home, our solar experts will take the following factors and more into account:

  1. Your Home Size and Location
  2. Your Current Energy Consumption
  3. Your Roof’s Access to Direct Sunlight
  4. Your Home Appliances Requiring Power
  5. Your Ideal Electric Bill

Advances in solar technology have made today’s solar panels high performing and more efficient than ever, requiring less roof space to generate significant solar production. With such premium solar panels, your solar installation may be more affordable.

The Cost of Solar Has Become More Affordable

The most efficient solar panels on the market have efficiency ratings of nearly 23 percent. That doesn’t sound like much, but it is more than enough to meet your energy needs. Here’s how an efficient solar system could potentially reduce your energy costs in the long-term. Consider that the typical home gets an annual average of 4-5 hours of peak sunlight per day. Each square meter of solar panels is thus exposed to 4-5 kWh of solar energy a day. With 20% efficiency, each square meter captures, converts, and delivers 0.8 to 1 kWh of energy to your house.

A typical home in the U.S. uses about 30kWh of electricity each day, so 30-38 square meters of panels would be needed to generate enough energy for this ideal home. This works out to about 300-400 square feet, which is about one-fourth of the size of an average roof. These newest, most efficient solar panels require less roof space to generate energy, so your solar panel installation cost could go down.

What Size Solar Panel System Do You Need?

At Pink Energy, our experts will work with you to determine the solar panel system that best meets your energy needs and goals. Learn more about how we develop our custom, high-performing solar systems.

Solar System Sizing

What Does a Solar Panel Installation Cost Include?

A Pink Energy quote provides you with an all-inclusive price of your solar panel installation. Here’s what the price includes:

  • Installation Equipment
    The cost of installation includes solar panels, inverter(s), wiring, conduit, mounting racks and mounting hardware.
  • A Custom-Designed Solar Energy System
    Once you sign the contract, our team will start designing your system, filing permits and getting set up for installation. We manage everything so you can just enjoy your potential solar savings.
  • A Time and Date for Your Solar System Installation
    On installation day, our team will carefully install your solar panels, check for proper function and then clean up afterward. Your only job will be to enjoy those new solar panels on your property.

Are Solar Panels Worth It?

Ready to own your power? At Pink Energy, we believe that solar panels make sense for home and business owners looking to reduce their carbon footprint, lessen their grid dependency and potentially save money on their monthly electricity bills.

Solar panels can provide your home with renewable energy, may increase the resale value of your home and can potentially produce enough electricity to actually feed the power grid in exchange for utility bill credits if offered by your power company.

Find out how much you could potentially save through net metering and other solar incentives in your state.

Financing Your Solar Installation

Own your power and start saving today with $0 down on your custom-made solar panel system.

Learn More

Solar Panel Maintenance Costs

Our durable, long-lasting solar panels are a low maintenance investment, but a professional cleaning 1-2 times a year is recommended.

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Save With A Solar Battery

The solar energy produced by your panels can go further with a solar backup battery, designed to store excess energy for use when you need it most.

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Frequently Asked Questions

How many solar panels do I need for my home?

The number of solar panels you need will depend on many different factors. These include your roof’s sun exposure, your current energy consumption, your goal electric bill and your home appliances. Ultimately, the exact amount of solar panels your home may need to see potential savings is unique to you. Our team will walk through each of these factors and determine the ideal number of panels needed to meet your energy goals.

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What factors affect solar panel costs?

Solar panel costs typically depend on the style and number of panels you select, current electricity costs in your area, and whether or not you qualify for any local rebates and incentives. Installation costs also factor in. However, depending on your panel efficiency, your region’s sunlight exposure, your home’s current energy usage, etc, you could potentially offset the cost of your system over the lifespan of your investment. Our system engineers will take all of these details into consideration to design a solar system that’s totally custom for your home.

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How much can I save with solar panels?

Your potential savings depend on a variety of factors, including where you live and how much energy your home currently consumes. Local utility rates, solar incentives, net metering policies and more can also impact your savings potential.

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How can I reduce the cost of going solar?

To make your solar journey as seamless as possible, Pink Energy offers $0 down, 100% financing on solar systems for qualified homeowners. Learn more about going solar for less.

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What is the federal solar tax credit?

Homeowners installing solar panels before the end of 2022 can potentially deduct up to 26% of the cost of their solar installation from their federal taxes5. Learn how to take advantage of this solar tax incentive before its expiration.

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Do some states get more solar energy than others?

While some locations may receive more direct sunlight than others, our high-performance solar panels need only be clear of debris to produce electricity for your home, regardless of where you live.

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Do my solar panels come with a warranty?

While performance issues and early wear and tear of your panels are highly unlikely, you can protect your solar investment and keep your system producing for many years to come with our generous warranty options.

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What is net metering?

Net metering gives you a way to store energy and use it when you need it. During peak sunlight hours, the average solar panel system produces more power than you and your family can use. The extra energy is fed back into the grid, and the utility can use it for someone else. You get credit for the energy you feed back into the grid. When needed, you can use that credit to get power from the grid during the night, or on cloudy days when your home needs more energy than your panels are generating. Net metering improves the economics of solar power significantly, and it’s why Pink Energy works with power companies that provide it.

For those utility companies that don’t offer net metering, installing a battery is a way to utilize more of the energy your solar panels generate to your benefit.

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How long does it take to pay off solar panels?

How quickly you can pay off your solar panel system depends on several factors including federal and state tax incentives you may be eligible for, whether you choose to pay off extra each month, and the size of your particular solar project.

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Are solar panels worth the cost?

The short answer is, yes, solar panels are worth the cost. Solar panels could potentially lower your electric bills, you take steps towards owning your power (not renting it), you can offset future utility bills with net metering, and home solar panels could potentially raise the value of your property.

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FOR GENERAC PRODUCT ISSUES: 800-396-1281 | solarsupport@generac.com