The cost of having a home solar system installed has decreased consistently over the last 20 years and is expected to continue to decline. So, should you wait until solar prices get lower before making an investment in a home solar system? The short answer is no. In most cases, solar panel systems will save you money today, and waiting for lower prices will mean that you will miss out on months and years of savings.
So how can you make sure you’re getting the best home solar system for you at the right price today?
As we mentioned earlier, prices for home solar systems vary widely, even for comparable systems in the same areas. According to EnergySage, in the first half of 2020, home solar prices in New Jersey (the yellow area) ranged from below $2 per watt to $2.75 per watt. This might not seem like much, but on a 10,000 watt system, that’s a difference in price of almost $8,000!
Rapidly changing technology combined with the many variables that influence cost make it difficult for the average homeowner to assess whether they are getting the right home solar system for them and paying a reasonable price. Being aware of the factors which will influence the cost of your specific home solar project and getting multiple quotes from solar contractors is a good start. But there’s a better way…