Before you even feel discouraged about setting up a system that uses solar power in your house just because of the expensive solar panels cost, you should consider some important aspects first. Yes, you might need to spend a lump sum initially but the savings that you can get from your electricity bills and other utilities will pay for that. Once you have recovered the money you invested, all you have to do is enjoy the continuous savings.

If you are going to rely on commercial companies to have your system set up, that could cost from $20,000 up to $40,000. If you are not willing to spend this much, you can do the solar panels on your own using the D.I.Y. kits that area available in the market.

Manufacturers Influence Solar Panels Cost

The solar panels cost will also depend on the company which created it. There are companies which will base their computation solely on the materials and production costs. Others add in a few more bucks for specialized materials or added features. In some cases, the costs can also be affected by how far the company is to the location where the panels will be sold.

On an average, the solar cells price can be somewhere between $5 to $15 per watt. This will vary on the brand and model of the panel that you are buying. The solar panels cost anywhere between $70 up to $1000.

Long Term Approach to Solar Panels Cost

If you focus only on the one time expense that you have to make just to set up the solar panels, it would really seem like a big amount. Yet, when you look at the long term effect of your investment, that is when you will realize that it is certainly worth it.

To ensure that you will end up saving more in the long run, you have to do some simple computation and analysis first. This should determine how much you should spend on the solar power system that you want to install.

For example, if you are spending $1000 for your electricity bill per month, you would not want to spend anything more than $12,000 for your solar power system. That is, if you would like to ensure that your expenses will be recovered within a year. If you are willing to wait for two years until your initial investment returns to you, you could push your budget a bit and spend as much as $12,000. It would be like paying for your electricity in advance. As a result, you will also be saving a whole lot more cash for the years to come.

What Solar Panels Cost Would Give You

A single panel that you would install in your roof can provide you an estimated 200 watts of electricity as long as it is directly charged by the sun. Usually, solar panels are set up in groups of five. This can already generate 1000 watts of solar power. Based on the energy consumption of a typical household, this is sufficient for 10% to 15% of their overall power demand.