Solar is a unique product because it can't just be priced off of the shelf. Not all homes use the same energy, and the solar efficiency of each rooftop will vary. The good news is that in nearly every situation, the outgoing funds for your solar project will eliminate and or minimize your current energy costs enough so that you are saving money from day one.
But let's get back to the pricing of solar. The industry experts talk pricing in terms of PPW (Price Per Watt). For example, let's say we're talking about a 10 kilowatt system (translates into 10,000 watts) and the pricing is off of a cash price.
Generally speaking a price range of $2.65 to as much as $3.20 per watt ($26,500-$32,000 on a 10kw) can be expected on this system. There are several factors such as warranty, inverters, equipment type, and specific market that will determine the pricing.
Should the project need extensive SOW (Scope of Work) such as roof work, electric panel upgrades, or other costly repairs; the price per watt will increase.
The other factor in the pricing are the loan terms. Solar lenders offer terms from 10 years up to 30 years with interest rates ranging from 4% to as much as 10%. A general rule of thumb is that the better the loan terms are, the more hidden costs (known as dealer fees) are in the system pricing.
For the best long term value, it's best to pay cash or take on higher interest rates that will keep your system principal down.
Whether you've already received pricing or if you are now ready to look at pricing, we can help you safely gather information.
Let us sort through your existing proposals or find a local verified and trusted installer to help you get a quote.
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