One of the most common questions we get from clients is how much a home solar system will cost. A solar system is an investment, and there are many factors taken into consideration when we first estimate and later determine the final cost of your home solar system.
Your system size is based on your electric usage.
When sizing a solar panel system, our solar experts will review the last 12 months of your electricity usage. This gives us a clear picture of how much energy you and the members of your home consume and, consequently, how much electricity you would need to maximize your solar investment. Another factor that is taken into consideration is whether you have plans in the near future to upgrade your home with additional electric loads, including:
- Electric Vehicles (EV)
- Electric Dryers
- Hot Tubs
We suggest installing a home solar system based on your best current knowledge of what you currently need and what you will need. If you know you will be buying an electric car a week after installation, you should install a system that accounts for this vehicle. Remember that you can always add to your system in the future, but it will save on costs on your home solar system to install everything at once.
Your budget will impact your system size
You can decide the size of your system, which ultimately decides the cost of your home solar system. A solar system will save you a set amount of money depending on its size. Even if your monthly electric bills average around $400-$500, but you can only afford the cost of a smaller home solar system, it’s still going to save you money.
Additionally, there are many financing options available when going solar. A solar consultant will walk you through your options to ensure you install a solar system that will save you money in the future but not break the bank now.
Your roof space impacts system size and ultimately cost.
If you can only fit 10 panels on your roof, but you really need 40 panels to offset your electricity usage completely, those 10 panels are still worth installing. Even just 10 panels will lower your electric bill, and those panels will pay for the cost of the home solar system quickly. Once paid off, this electric bill offset will be a direct savings reflected in your bank account each month. A trusted solar company can design a custom, cost-effective home solar system that will maximize your roof space to save you as much money as possible.
No roof space? No problem. There’s always the option of a ground mounted solar system.
In summary, remember that the cost of your home solar system really depends on three key considerations:
- Your type of installation. No two solar panel installations are the same. Prices can range from $15,240 – $20,040 for a 6kW solar system, but those prices will vary.
- Your current electric bills and future usage plans. The amount of electricity you consume in your home will dramatically impact the size of the solar panel system you need, and thus, impact the cost of the home solar system.
- What you plan adding to your home electricity in the future. Like we talked about earlier, there are many appliances you can add to your home that will increase your usage, like a brand new Tesla or the hot tub you’ve been planning to splurge on. If you know these items are in your near future, size your system with them in mind. This will end up saving you money on your electric bill in the future.
To get a ballpark of what a solar system will cost at your home, click here to use Simply Solar’s estimation tool.
To learn more about sizing your solar system and the cost of a home solar system installation, watch this series of videos on our online Solar Academy. If you are ready to go solar, one of our experts is standing by ready to help you start saving! Click here to book a free virtual consultation.