The advantages of purchasing solar panels are numerous — from reducing electric bills to improving home value and energy independence from the grid. But, they are known for being expensive, which is why it’s essential to think through how to find affordable solar panels.

This article will provide several tips on how to find solar panels in the mid-Atlantic.

How Much Do Solar Panels Typically Cost?

The average cost of installing solar panels is around $16,000 on average. However, it can also average between $3,500 to $35,000, depending on the type and model you wish to purchase. Several factors will affect your final costs, including the materials used, installation costs, tax credit, location, and solar panel company you choose.

Ways to Find Affordable Solar Panels

There are several ways to find affordable solar panels, which we’ll cover in detail in the selections below.

Research Panel Types and Manufacturers

As you begin researching solar panels, you will want to look into the common types of photovoltaic residential solar panels available. These include:

• Polycrystalline. These solar panels are known to be less efficient compared with other types of solar panels but are more affordable. They typically cost around $1 per wattage for average installation and have an energy efficiency rating of 15-17%.
• Monocrystalline. These modules have the highest energy efficiency compared with other panels. On average, they typically cost $1 - $1.50 per watt to install.
• Thin-film. This flexible panel is generally used for off-grid applications and has a thin film of solar photovoltaic (PV) material on a substrate. They cost around $1 - $1.50 per watt per install and are less efficient than crystalline solar panel systems.

Remember that each solar company uses different pricing strategies. So it’s important to compare multiple types of panels and manufacturers to find what’s affordable for your situation.

Collect Multiple Quotes

The next step is to collect quotes from a few installation companies. Some companies may be cheaper than others because of overhead costs, system design, equipment quality, and warranties. But if you notice substantial price differences, be sure to do your research into why before settling on a company.

Consider Leasing Solar Panels Instead of Buying

One of the options that you have when it comes to solar panels is to lease or buy them outright. Leasing a solar panel system means you won’t own the panels on your roof and will pay a monthly fee to use them. Essentially, you exchange the electric bill from your utility company for a lowered bill from a solar leasing company.

Pros of a solar panel lease:

• Lower expenses. You can still put solar panels on your home with little to no money down. And payments may decrease if your panels don’t produce as much energy as anticipated.
• Rising energy cost insulation. Leasing your solar panels can prevent rising energy costs because you will still save money on your electric bill from your utility company.
• No maintenance. You don’t have to worry about maintaining or monitoring any of the equipment.

Cons of a solar panel lease:

• No incentives. Because you don’t own the solar panels, you won’t qualify for any federal or state incentives like tax credits or rebates.
• No home value increase. Solar panels don’t increase your home’s value because you lease them instead of owning them.

Switch to Solar Confidently with Solar-Verse

At Solar-verse, we provide professional solar panel installation and assessments for homeowners and business owners across Maryland, Texas, and North Carolina. We pride ourselves on being a customer-centric company that is always looking out for our client's best interests.

If you're interested in learning more about solar or getting a quote for your home or business, our expert solar technicians are standing by to answer any questions you may have. Get in touch by calling (443) 455-0313 or through our contact form.