Calculate Your Way to Savings, Renewable Energy and Self Reliance.
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State-Specific Solar Incentives
| State | Incentives |
|---|---|
| New York |
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| Idaho |
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| Illinois |
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| Maryland |
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| Oregon |
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| South Carolina |
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| Texas |
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Solar System Cost Estimates
Average Cost of a Solar System:
For the average home installing a 6 to 8 kW system, solar panels will cost between $15,000 and $22,500 before applying incentives.
Post-Incentive Costs:
Using the 30% federal solar tax credit, the expected costs drop to between $10,500 and $15,750.
Cost Recovery:
Most homeowners will recover the cost of their solar panels in about 8.5 years, leading to savings of approximately $25,260 over the system's lifetime.
State-Specific Costs
Lowest Cost: Homeowners in New Mexico have the cheapest solar panel costs, with an average price of $9,996 after the federal solar tax credit.
Highest Cost: In Massachusetts, estimated costs are around $18,900 after the tax credit.
Cost Breakdown by System Size
| System Size | Estimated Cost | Annual Production (kWh) |
|---|---|---|
| 4 kW | $11,400 | 5,600 |
| 6 kW | $17,100 | 8,400 |
| 8 kW | $22,800 | 11,200 |
| 10 kW | $28,500 | 14,000 |
| 12 kW | $34,200 | 16,800 |
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Average Loan & Interest Rates
| Brand | Average Lifespan | Degradation Rate | Warranty Period |
|---|---|---|---|
| SunPower | 40+ years | 0.2-0.3% per year | 25–40 years |
| LG Solar | 25-30 years | 0.4% per year | 25 years |
| Panasonic | 25-40 years | 0.26% per year | 25–30 years |
| REC Group | 25-30 years | 0.3-0.5% per year | 25 years |
| Canadian Solar | 25+ years | 0.5% per year | 25 years |
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Electricity Prices by Region – September 2024
| Area | Electricity Price (per kWh) |
|---|---|
| U.S. | $0.178 |
| Northeast | $0.235 |
| New England | $0.283 |
| Boston | $0.302 |
| Middle Atlantic | $0.209 |
| New York | $0.273 |
| Philadelphia | $0.206 |
| Midwest | $0.166 |
| East North Central | $0.168 |
| Chicago | $0.168 |
| Detroit | $0.212 |
| West North Central | $0.162 |
| Minneapolis | $0.199 |
| St. Louis | $0.171 |
| South | $0.158 |
| South Atlantic | $0.161 |
| Atlanta | $0.181 |
| Baltimore | $0.176 |
| Miami | $0.141 |
| Tampa | $0.141 |
| Washington, D.C. | $0.171 |
| East South Central | $0.148 |
| West South Central | $0.155 |
| Dallas | $0.141 |
| Rocky Mountain | $0.172 |
| Denver | $0.161 |
| Pacific | $0.251 |
| San Francisco | $0.290 |
| Los Angeles | $0.252 |
| Seattle | $0.208 |
| Hawaii | $0.513 |
| Arizona | $0.183 |
| California | $0.286 |
| Florida | $0.140 |
| Georgia | $0.176 |
| Illinois | $0.204 |
| Ohio | $0.172 |
**Data reflects the average retail prices per kilowatt-hour for residential customers in these regions as of September 2024.
Source: Government statistics from the U.S. Bureau of Labor Statistics, accessed at https://www.bls.gov/regions/midwest/data/averageenergyprices_selectedareas_table.htm.
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Solar Cost and Electricity Savings Table
| STATE | AVERAGE COST FOR 6-KW SYSTEM WITH 30% FEDERAL TAX CREDIT APPLIED | AVERAGE COST FOR RESIDENTIAL ELECTRICITY (February 2024) | AVERAGE HOUSEHOLD KWH USE PER MONTH | DERIVED ESTIMATED YEARLY SAVINGS ASSUMING 100% SOLAR COVERAGE OF ELECTRICAL NEEDS |
|---|---|---|---|---|
| Alabama | $10,542 | 14.98 ¢/kWh | 1,178 | $2,123 |
| Alaska | $10,941 | 22.88 ¢/kWh | 580 | $1,669 |
| Arizona | $10,654 | 14.46 ¢/kWh | 1,061 | $1,849 |
| Arkansas | $11,771 | 11.89 ¢/kWh | 1,110 | $1,693 |
| California | $11,666 | 31.23 ¢/kWh | 535 | $1,715 |
| Colorado | $12,278 | 14.47 ¢/kWh | 692 | $1,207 |
| Connecticut | $12,558 | 29.52 ¢/kWh | 716 | $2,487 |
| Delaware | $11,414 | 15.73 ¢/kWh | 941 | $1,972 |
| District of Columbia | $12,100 | 17.10 ¢/kWh | 685 | $1,481 |
| Florida | $11,788 | 15.28 ¢/kWh | 1,111 | $2,064 |
| Georgia | $11,634 | 12.95 ¢/kWh | 1,096 | $1,808 |
| Hawaii | $11,466 | 43.93 ¢/kWh | 515 | $2,638 |
| Idaho | $12,107 | 11.26 ¢/kWh | 1,005 | $1,465 |
| Illinois | $13,146 | 15.72 ¢/kWh | 720 | $1,368 |
| Indiana | $13,230 | 14.11 ¢/kWh | 950 | $1,729 |
| Iowa | $12,348 | 12.15 ¢/kWh | 888 | $1,425 |
| Kansas | $11,172 | 13.74 ¢/kWh | 928 | $1,528 |
| Kentucky | $11,172 | 12.48 ¢/kWh | 1,094 | $1,705 |
| Louisiana | $11,907 | 11.25 ¢/kWh | 1,231 | $1,761 |
| Maine | $13,461 | 24.95 ¢/kWh | 583 | $2,038 |
| Maryland | $12,401 | 17.60 ¢/kWh | 968 | $2,137 |
| Massachusetts | $15,162 | 29.25 ¢/kWh | 577 | $1,940 |
| Michigan | $13,377 | 18.57 ¢/kWh | 652 | $1,491 |
| Minnesota | $13,083 | 14.36 ¢/kWh | 773 | $1,418 |
| Mississippi | $11,361 | 13.19 ¢/kWh | 1,186 | $1,946 |
| Missouri | $11,792 | 11.43 ¢/kWh | 1,077 | $1,605 |
| Montana | $11,067 | 11.96 ¢/kWh | 908 | $1,412 |
| Nebraska | $12,390 | 10.72 ¢/kWh | 1,043 | $1,472 |
| Nevada | $10,752 | 16.69 ¢/kWh | 939 | $1,649 |
| New Hampshire | $13,818 | 23.76 ¢/kWh | 623 | $1,926 |
| New Jersey | $12,222 | 17.69 ¢/kWh | 682 | $1,858 |
| New Mexico | $12,065 | 14.14 ¢/kWh | 659 | $1,147 |
| New York | $13,083 | 24.23 ¢/kWh | 592 | $1,613 |
| North Carolina | $11,487 | 15.10 ¢/kWh | 1,072 | $1,897 |
| North Dakota | $10,332 | 10.50 ¢/kWh | 1,119 | $1,566 |
| Ohio | $10,759 | 14.12 ¢/kWh | 875 | $1,480 |
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Annual Maintenance Averages
Understand what to expect when it comes to solar panel upkeep.
| Category | Cost Range | Average Cost |
|---|---|---|
| Solar Panel Maintenance | $300 - $700 | $400 |
| Annual Inspection Cost | $150 - $300 | $225 |
| Cleaning Cost (10 Panels) | $150 - $330 | $240 |
| Repair Costs (Common Issues) | $20 - $3,000 | Varies by issue |
| Sprinkler Cleaning System | $2,260 (for 50 panels) | |
| Robotic Cleaning System | Approx. $2,900 | |
| Bird Mesh Installation | $60 - $200 | |
| Cost of Panel Replacement | $15,000 - $21,000 |
Protect Your System
Prevent issues with proactive inspections and cleaning!
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State Average Electricity Buyback
| State | Average Buyback Value ($/kWh) | State | Average Buyback Value ($/kWh) |
|---|---|---|---|
| Alabama | 0.12 | North Carolina | 0.14 |
| Alaska | 0.15 | North Dakota | 0.12 |
| Arizona | 0.14 | Ohio | 0.13 |
| Arkansas | 0.11 | Oklahoma | 0.10 |
| California | 0.20 | Oregon | 0.18 |
| Colorado | 0.13 | Pennsylvania | 0.15 |
| Connecticut | 0.17 | Rhode Island | 0.19 |
| Delaware | 0.16 | South Carolina | 0.13 |
| Florida | 0.12 | South Dakota | 0.11 |
| Georgia | 0.11 | Tennessee | 0.12 |
| Hawaii | 0.25 | Texas | 0.14 |
| Idaho | 0.09 | Utah | 0.13 |
| Illinois | 0.14 | Vermont | 0.15 |
| Indiana | 0.10 | Virginia | 0.17 |
| Iowa | 0.11 | Washington | 0.20 |
| Kansas | 0.10 | West Virginia | 0.10 |
| Kentucky | 0.09 | Wisconsin | 0.12 |
| Louisiana | 0.11 | Wyoming | 0.11 |
| Maine | 0.15 | New Hampshire | 0.18 |
| Maryland | 0.17 | New Jersey | 0.19 |
| Massachusetts | 0.18 | New Mexico | 0.15 |
| Michigan | 0.13 | New York | 0.17 |
| Minnesota | 0.14 | Mississippi | 0.10 |
| Missouri | 0.12 | Montana | 0.11 |
| Nebraska | 0.10 | Nevada | 0.16 |
Get The Best Rate
Contact us for more informationn.
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State Average Loan and Interest
| State | Loan Minimum - Maximum ($) | Average Interest Rate (%) | State | Loan Minimum - Maximum ($) | Average Interest Rate (%) |
|---|---|---|---|---|---|
| Alabama | 5000 - 15000 | 4.5 | North Carolina | 5000 - 12000 | 4.0 |
| Alaska | 7000 - 20000 | 4.0 | North Dakota | 6000 - 18000 | 4.5 |
| Arizona | 10000 - 25000 | 3.5 | Ohio | 5000 - 15000 | 4.1 |
| Arkansas | 5000 - 15000 | 4.2 | Oklahoma | 7000 - 20000 | 4.3 |
| California | 15000 - 50000 | 3.8 | Oregon | 8000 - 25000 | 4.0 |
| Colorado | 10000 - 30000 | 4.0 | Pennsylvania | 6000 - 15000 | 4.2 |
| Connecticut | 10000 - 30000 | 3.7 | Rhode Island | 5000 - 15000 | 4.4 |
| Delaware | 8000 - 20000 | 4.1 | South Carolina | 7000 - 15000 | 4.3 |
| Florida | 6000 - 18000 | 4.5 | South Dakota | 5000 - 10000 | 4.1 |
| Georgia | 7000 - 20000 | 4.2 | Tennessee | 5000 - 15000 | 4.4 |
| Hawaii | 20000 - 60000 | 3.9 | Texas | 6000 - 25000 | 4.1 |
| Idaho | 5000 - 15000 | 4.0 | Utah | 7000 - 20000 | 4.3 |
| Illinois | 8000 - 25000 | 4.2 | Vermont | 5000 - 15000 | 4.1 |
| Indiana | 6000 - 20000 | 4.3 | Virginia | 8000 - 25000 | 4.2 |
| Iowa | 5000 - 15000 | 4.0 | Washington | 7000 - 20000 | 4.1 |
| Kansas | 5000 - 12000 | 4.4 | West Virginia | 5000 - 15000 | 4.3 |
| Kentucky | 6000 - 15000 | 4.2 | Wisconsin | 6000 - 20000 | 4.4 |
| Louisiana | 5000 - 10000 | 4.1 | Wyoming | 5000 - 15000 | 4.5 |
| Maine | 10000 - 25000 | 3.8 | New Hampshire | 8000 - 20000 | 4.0 |
| Maryland | 10000 - 30000 | 4.0 | New Jersey | 9000 - 30000 | 3.9 |
| Massachusetts | 12000 - 35000 | 3.5 | New Mexico | 6000 - 15000 | 4.1 |
| Michigan | 8000 - 25000 | 4.3 | New York | 10000 - 50000 | 4.5 |
| Minnesota | 6000 - 20000 | 4.0 | Mississippi | 5000 - 15000 | 4.2 |
| Missouri | 7000 - 20000 | 4.1 | Montana | 6000 - 18000 | 4.4 |
| Nebraska | 5000 - 10000 | 4.2 | Nevada | 8000 - 25000 | 3.9 |
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Solar Return on Investment (ROI)
This tool is designed to help you estimate the financial benefits of investing in solar energy by calculating your potential tax credits, savings, and payback period.
How to Use the Calculator
Solar System Cost ($):
- Enter the total cost of your solar installation. This includes all components such as panels, inverters, and installation fees.
State/Utility Rebate ($):
- Input any rebate offered by your state or utility company for installing solar panels. This amount will be subtracted from your total system cost to calculate the federal tax credit.
Loan Amount ($):
- If you’re financing your solar system, enter the amount you are borrowing.
Loan Interest Rate (%):
- Enter the annual interest rate of your loan.
Loan Term (Years):
- Specify the duration of the loan in years.
State Incentives ($):
- If your state offers additional incentives or tax credits, input that amount here.
Estimated Annual Electricity Savings ($):
- Provide an estimate of how much you expect to save on your electricity bill annually after installing solar.
Electricity Buyback Rate ($/kWh):
- Enter the rate at which your utility company pays you for excess energy you send back to the grid.
Annual Maintenance Cost ($):
- Input any expected annual maintenance costs for your solar system.
System Lifespan (Years):
- Enter the expected lifespan of your solar panels (typically 20-25 years).
Calculate ROI:
- Click the “Calculate ROI” button to generate your results.
Results Interpretation
After clicking the “Calculate ROI” button, the following results will be displayed:
- Federal Tax Credit: The amount of federal tax credit you can claim based on your adjusted system cost.
- Total Incentives (Federal + State): The sum of your federal tax credit and state incentives.
- Payback Period: The time it will take for your savings to cover the cost of your solar installation.
- Total Savings Over System Lifespan: The estimated total savings from electricity and buyback over the lifespan of the solar system.
Going Solar is Easier Than You Think
Using the Solar Return on Investment (ROI) Calculator is a great step towards understanding your solar investment. By providing accurate information, you can estimate your savings and the benefits of going solar. If you have any questions or need further assistance, feel free to reach out!
If you are unsure, you may refer to the ‘Pop Up Information’ to help with the form.