Solar Cost Breakdown – Average Prices For Solar In 2024
The most frequently asked question we get is “How much do solar panels cost?” Of course, we understand why home or business owners ask this question as it can be a significant investment to install a solar system.
Unfortunately, this question is not one that we have a one-size-fits-all answer for. To accurately estimate how much a solar system will be, we need to know the site details including the system size, location, equipment, and more.
While we may not be able to outline an exact price for you in this article, our team at Solar Bear Orlando is here to give you some rough estimates for average commercial or residential projects. This can help you budget for a solar panel system this year!
What Factors Impact the Cost of Solar?
First, let’s discuss some of the things that impact the final cost of your solar system in Orlando.
Installation Method
Generally, we install solar panels on roof or ground mounts. We can also install them on carports.
Roof mounts are attached to your roof’s structure and when considering cost, they are generally less expensive than ground-mounted systems or those on carports due to lower labor costs and require fewer components.
Though solar panels can be installed on metal, shingled, or flat roofs, each material requires varying levels of labor and components to install.
Ground mounts and carports can be a great option for businesses or homes that don’t want to install solar on their roofs or don’t have a suitable space on the roof for solar panels. Though these can be installed in areas that will generate the most sunlight, the trade-off is that they generally cost more than roof-mounted systems.
Type of Equipment
Two of the most important variables when it comes to solar panels are:
- Power density: The amount of power that a solar panel can produce per unit. The more power-dense the panel, the higher the cost is per watt.
- Color: Basic panels come with blue cells, white back sheets, and silver frames. Panels with a black frame, black back sheet, or black cells are more expensive.
Solar Inverters
We install two different types of solar inverters:
- String inverters: Link solar panels in one or groups. These are generally more cost-effective than other kinds of inverters.
- Micro inverters: These are installed on individual panels. Though they have many benefits, they are also the most expensive type of inverter.
Energy Consumption
One of the most important things you have to know about the cost of solar for your home boils down to how much energy your household uses.
Bottom line? The higher your electricity bill is, the more solar panels and equipment you’ll need.
Shading
Another aspect that impacts how much your solar system will cost is the amount of shade your system will have. How much energy your panels will get directly correlates to the type of inverter, the size of the panels, and the overall placement of your system, and thus, the cost.
Local Weather Patterns
Of course, living in the Sunshine State has many advantages besides our beautiful beaches. We receive A LOT of sun, which is great for generating solar power.
This can help reduce the cost of your system, as you may not need the number of solar panels someone in a less sunny climate may need. Nice!
This is just an overview of what could impact the cost of your system, there are several other factors at play, so if you have questions, don’t hesitate to ask. For now, let’s move on to some average prices.
The Cost of Solar
So, now that we have gone over some of the factors that play into the cost of solar, let’s take a look at some average prices for commercial and residential customers.
Commercial Systems
The average size of a commercial solar array is between 50 kW and 200 kW a month. The average cost to install a system that will generate enough power for these numbers could be anywhere from $145,000 to $500,000.
Note: This is before grants or tax incentives. When using tax rebates or grants, commercial solar systems could be reduced by 60-90%
Residential Systems
The average size needed to run the average household is between 5 kW and 10 kW a month. Before any tax rebates or incentives, homeowners could look at their solar array costing between $25,000 to $50,000.
Note: If homeowners utilize a 30% federal tax credit, they could pay between $18,000 to $38,000 depending on the size of their system.
Bottom Line
The best way to accurately budget for a solar system installation is to request a hassle-free estimate from our team at Solar Bear Orlando.
When quoting we will walk you through the complete installation cost based on your needs and explain all the incentives available to you so you know what to expect before investing.
Get a Solar Quote
Ready to get started on your solar journey? We’re excited you’re here! Contact our friendly solar pros at Solar Bear Orlando for a quote and let this year be the one where you take the first step toward harnessing the power of Florida’s ample sunshine!
Call us at (727) 471-7442 today!
