How Solar Panels Prices Affect Your Home

A wide range of factors determines the final solar panels prices for your home. Some are obvious, like the Costco-esque relationship between system size and price – a bigger solar power system with more panels will cost more, but on a per-watt basis it will cost less than a smaller one. The amount of daily peak sunlight a home receives also plays a major role in the overall energy production and cost savings of the system.

The equipment that makes up the heart of your solar system is also important – higher-quality panel technology typically delivers better performance and greater savings than cheaper options. In addition, your installer will add in various soft costs such as permitting and interconnection to the utility grid.

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The current state of the solar market is largely driving solar panels prices down. Friction between the United States International Trade Commission and China erupted in February 2018 when the ITC levied Section 201 tariffs on solar cells and modules imported from China, which added about 30 percent to the final cost of a residential system.

Experts are optimistic that the market will rebound this year and that solar panel prices will drop again. According to a research note published by Climate Energy Finance, a leading think tank on renewable energy, existing global solar PV annual production capacity is set to triple this year and the “factory gate” price of polysilicon will halve again this year.

Solar panel prices will also be affected by the location and availability of solar incentives where you live. However, it’s critical to work with a local solar company so you can get the most accurate pricing for your solar project. Choosing the lowest-priced option might not deliver the quality installation and customer service you deserve for your 25-year solar energy investment.