How Much Do Solar Panels Cost? (2024 Breakdown Guide)

On top of the typical costs of installing solar panels, you&#;ll also want to consider maintenance, cleaning, home insurance, monitoring, tree trimming, roof repair, solar panel repairs and solar roofs.

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Maintenance

Maintaining your solar panels costs anywhere from $140 to $180 annually or an average of $150 per year if you hire a pro to maintain your solar panels. At this cost, your pro will inspect the panels for signs of repairs.

Cleaning

If you also want to hire a solar panel company to clean your solar panels, this will be an additional cost of around $150 per cleaning. For someone with the proper equipment, safety knowledge and experience, this could be a DIY-friendly job that only costs a one-time payment of around $100.

Once you invest in the initial amount for cleaning equipment, such as an extension ladder, garden hose spray attachments, squeegees, soft brushes and a one-gallon handheld sprayer, you&#;re essentially cleaning your panels for free&#;minus the labor and time commitment. It&#;s not recommended, however, to undertake this project without the proper skills. Safety is of the utmost importance even if you have to pay more.

Yearly cleanings can help improve the performance of your panels by ensuring debris and dust aren&#;t blocking sunlight from hitting the panels.

Home Insurance

Solar panels can increase your home&#;s value, which in turn may increase the cost of your homeowner&#;s insurance. According to a to study by Zillow, homes with solar panel systems sold for $4.1% more than similar homes that didn&#;t have solar panel systems. However, this doesn&#;t necessarily translate over to your homeowners insurance. You&#;ll want to check with your insurance company to see if installing solar panels could increase your rates.

Solar System Monitoring

Depending on your solar panel company, some installers offer complimentary solar system monitoring that allows you to see your solar panel production in real-time and even view your electric usage to modify your lifestyle and make the most out of your solar panel system.

Elevation Solar is a good example of a solar company that integrates whole-home energy efficiency solutions. Other companies, like Palmetto Solar, may charge extra for monitoring services, so read the fine print of your solar panel installation company before you buy.

Tree Trimming

In some cases, you might want to invest in tree trimming services to help clear the way for sunlight to reach your installation site. The cost to trim a tree falls between $250 and $700 per tree.

Roof Repair

Your roof needs a strong, sound foundation if you choose to install solar panels. Repair or replace old roofing beforehand to ensure that your home is safe from the elements and that no hazards will come from installing the panels. The average roof repair costs $950, but prices can range anywhere from $150 to $7,000 depending on the extent of the damage. Roof replacement costs even more, with prices ranging from $6,700 to $80,000, or $11,500 on average.

Solar Panel Repair

The cost to repair solar panels ranges from $200 to $1,700 depending on the severity of the damage. A small crack will cost the least to repair while repairing a solar panel inverter tends to fall at the higher end of the price range.

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You may have an active solar panel warranty or comprehensive warranty through your solar panel installation company, so look at your warranty to see if you can save on the cost of repairing your panels. Most manufacturers offer a 25-year warranty.

Solar Shingles and Tiles

The average cost for solar shingles ranges from $15,000 to $20,000. At $88,500 for a 6.31 kW solar roof. Tesla roofs and Powerwalls cost significantly more but also come with a battery storage system. Some homeowners opt to install solar shingles or solar roofs. These roofs replace your existing roof and protect your home from the elements while providing your home with an attractive, energy-efficient bonus.

&#;One might want to consider the inverter system size and how it will affect the cost of the system. In some cases, another inverter can be installed to prevent inverter clipping or curtailment from higher than 1 ILR.&#;
&#; Remi Akinwonmi, National Renewable Energy Laboratory (NREL), Solar Research Engineer

*Based on a $29,926 10.8 kW system before incentives. These are averages for the whole U.S. Costs will always vary from installation to installation. 
**Based on a study by the National Renewable Energy Laboratory (NREL). 

Solar equipment costs

The panels themselves are probably the first thing that comes to mind when you think about going solar, but solar panels represent less than a third of the total solar equipment costs. You can expect all required solar equipment, including supply chain costs and sales tax, to cost $13,800&#;about 46% of the total system price.

This price depends on the brand and quality of the equipment you select. Systems with SunPower panels, known for a strong warranty and high efficiency, see the highest average prices. You'll pay about $27,500 after tax credits for a 10.8 kW SunPower system after the federal tax credit. Sometimes the bigger price tag is worth it: Investing in high-quality equipment can lead to better long-term savings. But reaching for the highest-priced panels often isn't the best choice. There are many high-quality options with varying price points. 

The type of panel you install also directly impacts the quality of your installation. Monocrystalline solar panels offer the highest efficiency and power output and are used in most home systems today. They're often more expensive than polycrystalline solar panels, but you need to buy more polycrystalline panels for the same amount of power, so your overall installation costs may be similar. Thin-film solar panels are the cheapest type of panel, but they aren&#;t often used for home installations due to their low production. They're a great option for RVs, campers, and DIY home setups.

Inverters can cost almost as much as solar panels depending on the type you select. They convert the direct current electricity your solar panels produce into alternating current that household appliances use. Microinverters and optimized inverters are similar in price but cost a few thousand dollars more than string inverters. If you have a complex roof with multiple planes or shading, it's usually worth it to select a pricier microinverter or an optimized inverter to maximize your system's production. 

Racking and mounting equipment attaches solar panels to your roof, but it's a relatively low-cost portion of the installation. You'll also need wiring to connect your rooftop system to the grid and your electrical panel, which can add a few thousand dollars. 

Installer costs

Another piece of the solar installation puzzle is the company performing the job. Solar installers charge varying amounts for their services. The final price they offer depends on their track record, warranty offerings, and internal operations. A well-regarded solar installer with premium warranty offerings will often charge more&#;and it will usually be worth the money. 

Installer costs are about the same as equipment at around $13,800 or 46% of the total installation. Labor is only about 15% of installer costs and profit is generally around 20%. Your biggest installer costs go toward sales, marketing, and overhead.

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