- December 31, 2022
- Posted by: Bastion team
- Category: World News
Table of Contents
Rising energy prices and new tax incentives for green home improvements this year are heating up interest in solar.
Experts say it’s a good time for many homeowners to harness solar energy. Though solar power may not work for every home, when it does it can drastically cut home heating bills and lessen damage to the environment caused by the burning of fossil fuels. And while installing a solar energy system is still not cheap, the up-front cost has gone down significantly in the past 10 years.
Cost of solar panels
Costs vary from state to state and depend on things like the size and quality of the solar array. Nationally, the average cost for a residential photovoltaic system is about $20,000 after 30% in federal tax credits, according to EnergySage.com (opens in new tab), an information website for residential alternative energy.
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Nick Liberati, communications manager for EnergySage, breaks it down: The national average for a 10-kilowatt system, priced at the national average of $2.86-per-watt, costs $28,600. The federal tax credit allows you to deduct 30% of the cost of…