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Demystifying the Cost of Solar Panels: Unlock the Savings and Maximize Your Return on Investment

Jan 24

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January 24th, 2025


Brick house with solar panels on the roof, a clear blue sky, two beige chairs, and a large window with curtains in the background.

As the adoption of renewable energy continues to rise, one of the most common questions homeowners have is, "How much do solar panels cost?" This is a valid concern, as the upfront investment in a solar energy system can be a significant financial decision.


At Bracket, we understand the importance of providing our customers with a clear understanding of the costs associated with going solar. In this blog post, we'll dive into the key factors that influence the price of solar panels and explore the numerous ways in which homeowners can maximize their return on investment.


The Cost Breakdown of Solar PanelsThe cost of a solar energy system can be broken down into several components, including the solar panels themselves, inverters, mounting equipment, labor, and permitting fees. On average, a residential solar installation in the United States can range from $15,000 to $25,000 before incentives and rebates.


Stacks of silver and gold coins with black and blue pens on financial documents, suggesting a business or finance theme.

However, it's important to note that these figures can vary significantly depending on the size of your home, your energy needs, the geographical location, and the complexity of the installation. Additionally, the cost per watt of solar panels has been steadily declining over the years, making solar an increasingly affordable option for many homeowners.


Unlocking Savings through Incentives and RebatesOne of the most effective ways to offset the upfront cost of a solar energy system is by taking advantage of the various incentives and rebates available at the federal, state, and local levels. These can include:


  1. Federal Investment Tax Credit (ITC): The ITC allows homeowners to claim a tax credit of up to 26% of the total cost of a solar energy system.


  2. State and Local Rebates: Many states and local governments offer additional rebates or performance-based incentives to further reduce the cost of going solar.


  3. Net Metering: This program allows homeowners to receive credit or compensation for the excess electricity their solar panels generate and send back to the grid.


By maximizing these incentives and rebates, homeowners can significantly reduce the overall cost of their solar investment, often leading to a payback period of 6-12 years.

Long-Term Cost Savings and Return on InvestmentIn addition to the upfront cost savings, transitioning to solar power can also provide ongoing financial benefits through reduced electricity bills and the potential for increased home value.


Workers in safety gear install solar panels on a roof. One wears a bright yellow shirt and uses a power tool. Clear blue sky.

Solar energy systems are designed to generate electricity for 25-30 years, providing homeowners with decades of predictable and stable energy costs. This can be especially beneficial in areas with rising utility rates, as solar power can insulate homeowners from these fluctuations.


Furthermore, studies have shown that homes with solar panels can command a premium on the real estate market, with estimates suggesting a return on investment of up to 4 times the initial solar installation cost.


At Bracket, we're committed to helping our customers navigate the complexities of solar panel costs and ensure that they make the most of their renewable energy investment. Our team of solar experts will work with you to develop a customized solution that fits your budget and energy needs, maximizing your long-term savings and return on investment.


Ready to explore the cost-saving potential of solar power? Contact Bracket today and let us guide you on your journey towards a more sustainable and financially rewarding energy future.

Jan 24

2 min read

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