"We never thought that we would be able to afford solar. We decided to go solar when we heard that Sunrun had a product that would be no money down."
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The price of residential solar power
On average the total cost of solar installation can be between $15,000 to $29,000 for average sized systems sized between 4kW and 8kW.2
Sunrun solar lets you get started for as little as $0 down and helps you lower your electric bill. If you want to own your system, we do that too. If you choose to buy your system, the graph shows an average breakdown of costs of a residential solar panel installation.
Equipment costs: Solar panels, inverter, mounting hardware and wiring
Installation and permits: Solar installation, supply chain, permitting and interconnection
Sales and operational: Monitoring and maintenance costs, repairs, additional operational and overhead
When you purchase a residential solar system, the cost of your system also depends on its size. Larger systems will cost more as they require more panels.
A photovoltaic system is more than its panels — it's made up of many other components, including wiring, racks, an inverter, and often a solar monitor and meter. The balance of systems and installation labor costs can drive up the overall cost-per-watt of a system.
See what happens during a solar installation
How much does it cost for Sunrun's home solar installation?
Your home solar power system doesn’t have to cost a lot. When you choose a solar lease you can get your solar panel installation costs down to $0. We take care of the equipment costs, installation, permits, and we’ll even protect your system for 20 years. All you pay for is the solar energy, and save money on your electric bill each month. Here’s how it works:
Learn more about our solar financing options, and let us help you choose a plan that makes sense for you.
How Are Solar Panel Costs Measured?
Solar panels are measured in watts and are often priced in dollars-per-watt. Not all panels are created equal, and they’re priced accordingly.
| Monocrystalline | Polysilicon | Thin Film Silicon | BIPV | |
|---|---|---|---|---|
| Cost | High | Medium | Low | High |
| Efficiency | High | Medium | Low | Medium |
Solar Power Costs vs. Your Utility Company
Did you know that solar power already costs less than grid power in 10 states? That translates into big savings on your utility bill. Here’s why it’s happening:
- Despite temporary drops in the price of oil and natural gas, utility companies continue to increase electric rates.3 Over time, fossil fuels will continue to be limited, further driving the costs up.
- The cost of solar panels is falling, down almost 100 percent since 1977 (see chart) and more than 50% since 2007 alone.4
- Installation costs are falling as well, as more solar providers enter the market to meet growing demand.
Solar panel costs are dropping, while electric rates aren’t. See how much you can save with a fast, free solar quote.
How Else Can I Reduce Home Solar Energy Costs?
Federal, state and local incentives push costs down even further. Currently, homeowners can take advantage of a 30 percent federal tax credit now through 2016. Even if the credit falls to 10 percent with no additional rebates after 2016 as some predict, solar comes out ahead of grid electricity in most of the U.S. as shown in this map.5
Learn more about Federal solar incentives
There are also individual state solar rebates. Learn more about specific incentives in your state.
Solar Incentives by State
If we’re not in your state, stay tuned – we could see you soon!
Why Should I Choose Sunrun?
Sunrun is one of the leading home solar companies. We take care of everything from paperwork to solar installation so you don’t have to do a thing.
Even better, you can save 20% on your electric bill when you go solar with Sunrun.5 Plus, with our 100% guarantee your system will perform as expected, or we’ll cut you a check for the difference. We've got you covered on everything from maintenance to monitoring and repairs – at Sunrun, we always have your back.
Related Topics:
- What's a solar lease?
- Overview of solar financing
- should you lease or buy?
- Cost of solar over time (Cleantechnica)
1 GTM research - U.S. Solar Market Insight Report
2 Energy Information Administration -http://www.eia.gov/todayinenergy/detail.cfm?id=17791
3 Cleantechnica -http://cleantechnica.com/2013/05/24/solar-powers-massive-price-drop-graph/
4 Bloomberg -http://www.bloomberg.com/news/2014-10-29/while-you-were-getting-worked-u...
5. Based on average Sunrun contract signed in 2014, payment by automatic debit, and an assumed annual utility rate increase of 3.5%. Actual savings will vary. Savings depends on several factors, including product type, system production, geography, weather, shade, electricity usage, and utility rate structures and rate increases. See sunrun.com/save20 for details.
* Assumes a 10% Federal Tax rebate with no state incentives