What factors influence the cost of a solar panel system?

Aug 26, 2022 | Solar Panel Costs 0 comments

We tell you what are those factors that can influence the cost of your solar panel system and the projection of its costs in the future.
What-factors-influencing-the-cost-of-a-solar-system

If you have wondered how much it costs to install a solar panel system for your home, you should know that for all houses the value is different, because there are factors that influence its cost. In this blog we show you what they are so that you can feel at ease and make a decision about your investment. 

Schedule a consultation today with one of our experts and find out the cost of your solar panel installation project. 

As we mentioned in our blog Why aren't solar panels free?, ehere are different costs that must be taken into account to install solar panels and that depend on external factors such as: the state where you live, the solar exposure of the area, since the more exposure you have, the less you will need a large panel system, the type of panels offered by the company you hired and the factors that we will show you below:

  • Type of panels

There are different types and brands of solar panels that can be installed in your home depending on the production required in each case. 

In general, photovoltaic solar panels of monocrystalline type, are the most used as residential, since its performance and quality provides everything you need for you and your family. In fact, this type of panels are the ones that Solar Mission offers you, as they provide the energy you need with excellent quality. 

If you want to know more about types of solar panels we invite you to read our blog and learn more about their characteristics.

  • System size

The size of the system refers to the number of solar panels required according to the size of your home and the energy production you require to meet your family's needs. 

  • Power consumption

The energy consumption you have in your home depends on the number of people living in it, or the different appliances and devices you have that require energy, this influences the annual consumption that your family requires and therefore will determine the amount of panels that are required for you to enjoy solar energy. 

  • Installation

This factor plays an important role because during the installation of a solar panel system may occur unforeseen events in the process, changes in the roof for a better grip, relocation of the system and the wiring system, among others. In Solar Mission we take care of accompanying you throughout the installation process to avoid such unforeseen events and overspending.

  • Company

The costs that each company can offer you for selling you a solar panel system, varies according to the services they offer for you to enjoy your panels and on the other hand the brand and type of panels they handle in their portfolio.

It is important that before making a decision you investigate the quality offered and compare costs and benefits, as this is a very important investment. 

  • Type of financing

The type of financing may also change the total cost of your system, since in some cases the payment method may offer discounts or increase your total cost if you decide to pay in monthly installments with a high interest rate. 

In Solar Mission we offer you more than 5 financing methods that seek to accommodate you and offer you discounts so that you receive benefits at all times, so you can also get significant discounts on the cost of your system according to the payment method you choose. 

As you can see, the cost of a solar panel system depends on several aspects that are important in the whole process of energy change, however the economic benefits they bring to your life are many, in terms of the savings you will see in your electric bill and all the incentives granted by the State for switching to solar energy. 

If you want to know more about the incentives granted for installing solar panels, we invite you to read our blog: Get to know the government grants for the installation of solar panels. so you can better evaluate your finances and make the best decision for you and your family.

What is the future of solar panels and their costs ?

Today, experts such as Ben Moody, president of Pan American Finance, assures that solar energy is no longer as expensive as it used to be. Pan American Finance assures that solar energy is no longer as expensive as it was before, since this type of energy has become competitive over time, and in the long term it could be the main source of world energy, however it is important to evaluate the different aspects that could make its cost rise, such as the inflation we are going through and the consequences that the pandemic has brought to the economy. If you want to know more about this topic, we invite you to read our blog Why are solar panels going up in price?

On the other hand, with the clean energy revolution and projects to care for the environment, solar photovoltaic power plants have become easier and faster to install which represents less complexity in terms of the process to obtain a system of panels in your home. 

On the other hand, it is important to know that with the advancement of technology, the costs for the manufacture of solar panels have decreased, as more and more people decide to be part of the change and install solar panels on their homes, so the demand has increased, the future of solar energy is promising so the manufacture of panels at some point could become massive. 

Let us guide you through the entire process of switching to solar energy, we have a group of experts ready to tell you all the benefits you will receive from installing your solar panels and the savings you will see in your finances. Schedule a free consultation today, click here and start your process.

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