How much does it cost to buy a solar panel

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Do solar panels cost money?

For a cash purchase, your average monthly electric bill with solar panels is essentially flat fees that can’t be offset by net metering and any leftover electricity bill (this mostly pertains to California). If you selected financing, the monthly payment represents your loan payment for a 20-year loan.

Are solar installations cheap?

Solar installations aren't cheap, but the actual equipment is a relatively small part of the total cost. It's only 35% of your total installation cost, according to the US Department of Energy. Soft costs, also known as the hidden costs of installing solar, are nonhardware costs, and they make up 65% of your total solar costs, according to the DOE.

Are solar panels worth it?

Solar panels are only ever going to be worth it if you can afford them. Be careful if you need to take out a loan as the interest repayments might be higher than your returns. And while it’s important to think about the money, lots of people see the environmental impact as the key reason to invest in solar panels.

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How much does it cost to buy a solar panel

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