For consumers that cannot purchase a solar system outright, financing may be available. A wide variety of financing and incentive options are available, depending on the particular situation. These financing options include loans, leases, and tax credits and incentives.
Several additional resources are available for financing a solar electric system including:
- Construction loans
- First mortgages
- Home equity loans
- Home refinance
For more information on the pros and cons of different financing options, visit the Energy Sage website.
Cost and Pricing Trends
The cost per watt usually goes down as the system size increases and costs for residential solar have been decreasing. Consumers should keep in mind that costs may vary by installer and are subject to change at any time. Lawrence Berkeley National Lab publishes a study each year that looks at the cost of solar. The results from the study are updated each year and available on the Tracking the Sun website.
Cost Estimators and Financial Calculators
- EnergySage- Solar Calculator
- Energy Sage- South Carolina solar panels: local pricing and data
- Energy Sage- Cost of solar panels in 2021: state-by-state breakdown
- Google- Project Sunroof
- National Renewable Energy Lab (NREL)- REopt Lite Tool
- National Renewable Energy Lab (NREL)- Photovoltaics Economics Calculator (PVWatts)
- Southern Environmental Law Center- Rates of Solar