Cost of Solar
By going with a solar lease, Lifestyle Solar handles everything; we install the system, we cover the costs of all the maintenance and take care of everything for 20 years.
What Does Solar Power Cost?
The cost of your solar system will depend largely on the design and location of the system; typically, home installations range from 3 to 7 kilowatts, ranging in price from $18,000 to $40,000 for an outright purchase. Here’s how it breaks down:
Equipment Cost – 45%
- Panels – Roughly 30% of a residential grade solar system’s cost is in the panels themselves, which can run around $4,500 to $12,000.
- Power inverter – An inverter converts DC to AC power so you can connect to the grid and costs between $1,000 to $3,000.
- Hardware – Installing these systems usually requires mounting hardware such as standoffs, rails and other things. The cost of these components usually ranges berween $800 and $2,000.
- Wiring – The wiring that ties into your home, including disconnects, conduit piping and other components can run around $1500 on average.
Installation and Permits – 25%
- System Installation – Installing the system itself can run between $2,000 and $4,000.
- Permits – Different municipalities will have different laws regarding the instillation of solar equipment and will typically require certain permits and fees to be paid. All in all, these can be as little as $3000, and run as much as $6,000.
Operational Costs – 30%
- Monitoring – Equipment and services can add up to thousands over the life of the panels.
- Maintenance – The cost of maintaining your system will vary depending on the situation, but include things like power inverters and panels themselves. The inverters themselves will require replacing at least once over the course of the system’s life.
- Operational costs and unaccounted for overhead can add between $4,000 and $9,000 to the total installation cost as well.
Incentives work in your favor, lowering the cost of solar systems. By being a home owner, you’re entitled to a tax credit of 30% off the total cost of your solar system. It should be noted, however that receiving this credit may take as long as 16 months after the purchase pf the system.
Solar on a Budget
Lifestyle Solar believes in getting solar systems on peoples’ homes and goes to great lengths to provide our products at a price point that’s not out of reach for most. By going with a solar lease, Lifestyle Solar handles everything; we install the system, we cover the costs of all the maintenance and take care of everything for 20 years. The only thing you pay for is the electricity that your system produces.
Lifestyle Solar also works with you to take care of the tax incentives, permits and finding other benefits that you can take advantage of with your new system. We handle it all, turn it over to you immediately– thus eliminating the wait– and provide you with phenomenal service for a fraction of the up front cost of a solar system.