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Residential Solar Panel Cost in 2022


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Are you thinking about a sun-powered home, but hung up on residential solar panel costs? If so, you’ve come to the right place.

While the easiest step is to chat with a Solar Energy Specialist, we’ve got the gist ready for you.

Let’s talk nickels, dimes, and what it’s going to really cost you to go solar. Now, don’t be surprised, but the price tag on solar is not a one-size-fits-all type of deal. Before understanding the true cost of going solar for your household, it’s important to evaluate a few key questions.

  1. Energy Consumption
  2. Electricity Prices
  3. Sunlight Exposure
  4. Price of Equipment and Installation
  5. Incentives

cost of solar panels factors

1. Energy Consumption: How Much Energy Does Your Home Use?

First things first, let’s talk about energy consumption. Electricity powers many of the things American households have grown accustomed to ― like refrigerators, washing machines and central air conditioning units. According to the U.S. Energy Information Administration, “More than half of energy use in homes is for heating and air conditioning.”

So, how much energy does your household use? Taking a peek at your electric bill could provide a snapshot of your home energy use. Or, you could get this information by chatting with a Solar Energy Specialist during a free solar consultation with ADT Solar.

If your family uses a lot of energy, it could affect how large your solar installation might need to be (and how many solar panels you’ll need to purchase). Taking these factors into consideration could impact the overall residential solar panel cost. The more energy generation you want, the more solar panels you’ll need.

2. Electricity Prices: Are Electricity Prices Rising?

Yes, electricity prices are rising. That’s why electricity rates are the second thing you want to take into consideration. For solar to truly be beneficial to your home, you want to make sure it can actually offset the cost of your electric bills. In 2022, it’s predicted that U.S. electricity prices will gradually rise to an average of 14.36 cents per kilowatt-hour (kWh).

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. It boils down to our ability to obtain the resources needed to generate power. Consequently, the current electricity rates tend to reflect the success or failure of that task.

Typically, electricity prices vary by state. A few states have prices that are well above the national average. 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 the number of solar panels you should install and, ultimately, the cost.

It’s also helpful to understand your electric company’s net metering standards. All of this will have an effect on the number of solar panels you should install to cover your electric needs.

3. Sunlight Exposure: How Much Sunlight Do You Need for Solar Panels?

Missouri Solar Panel InstallerTypically, you need at least 4 peak sun hours to supercharge your solar panels. Sunlight exposure is the measure of how much sun your house (or, rather, your roof) gets during the day. Calculating sun exposure is broken down into three different factors:

Since the amount of sunlight your roof has access to impacts how many solar panels your home will need, it’s safe to say this factor also contributes to solar panel cost.

4. Price of Equipment and Installation: How Much Do Solar Panels Cost?

While we know this question is burning up your mind, solar panel cost depends on your individual home. Your location, access to sunlight and shade, personal energy consumption and many other factors play a role in determining cost. Solar system size is dependent on these factors, so you’ll have to factor the equipment needed and installation into the cost.

cost of solar panels factors

What is the cost of solar panels for my home?

That depends on your home! The price of solar panels varies widely depending on how many solar panels you’ll need to meet your home’s energy consumption.

It’s also important to consider the quality of the product. You should invest in the brands that have higher solar panel efficiency and come with longer warranties. At ADT Solar, we believe in our products so strongly, we back them up with our own warranty.

Another expense to factor into the installation price is the permits needed to get solar panels added to your home. However, if you choose a good solar company, they should take care of this for you.

How much do solar panels cost for a 1,500 square foot house?

The price for your solar panel system will vary depending on your home’s energy needs and if you want to provide your home with 100% solar energy. It also varies based on the type of panel you plan to purchase.

A very rough estimate for a typical 1,500 square foot home in the U.S. would include covering around $100/month for an average electric bill. This would mean between 15 and 18 solar panels.

How much do solar panels cost for a 2,000 square foot house?

For a 2,000 square foot house, around 16 to 25 premium solar panels will supply 100% of your home’s electricity needs. Again, discuss this with a Solar Energy Specialist in your area.

 

Here are a few things to be on the lookout for when getting a quote from solar companies.

how to choose the right solar company

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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 26% tax credit to any qualified rooftop solar system if installed by December 31, 2022. After that, the value of the tax credit will decrease to 22%. And after 2023, the tax credit for residential solar ends.

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.

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Why Choose ADT Solar?

 

Free Solar QuoteThere 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, you don’t have to go through it alone. A free consultation with ADT Solar offers a snapshot into every area you need to understand before making the decision to go solar.

We’ll even partner you with our sister companies, Buildpro and Energypro, for roof evaluations and a formal home energy audit.

For more information, check out our blog to see what you can expect.

ADT Solar is here to help you switch to clean, renewable energy with minimal stress. We provide the highest level of customer service, so you can rest easy knowing that your solar panel installation is in good hands.

To learn more about going solar, or to schedule your free consultation, simply contact ADT Solar today!




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