No two solar power systems are the same. They are custom-based on the home, roof type, shading, and utility. Installation for the average 5kW system ranges from $11,100-$22,400.
Based on Location and Wattage for a 5kW-6kW system: $2.50 - $4.15/watt
Based on Location and a 5KW System: $11,100 - $22,400
How Much Money Can You Save Using Solar?
On average, homeowners save approximately 20% on their power bill when they switch to solar power. A variety of factors play a role in how much you’ll save. Here are some considerations to keep in mind when shopping for a solar power solution:
Features that May Affect Cost
Paying for solar panels and installation up-front isn’t possible for many homeowners. With a home solar lease, your system is rented from a professional solar provider. This reduces up-front costs and puts professionals on the job who understand how to maximize your solar power system.
A solar lease provider will also handle paperwork, permits and installation based on your particular home and energy needs. They will also own the solar panels on your property. By making low monthly payments, you’ll get clean, reliable solar energy. You’ll also be protected from soaring electricity costs around the country.
Other Considerations for Solar Lease:
A solar power purchase agreement, commonly referred to as a PPA, is an agreement to pay for the energy created by a solar system at a fixed per-kilowatt-hour price. These plans are offered by solar providers and typically billed monthly or in an up-front lump sum fee. '
The main benefit of a solar PPA is that you can lock in low electricity rates for your home. These rates are designed to be less than what you pay your electric company currently, and in many cases, savings are significant.
Other Considerations for Solar Lease PPA:
The Home Depot only uses local, licensed, bonded and badged contractors. Adding solar to your home doesn’t require a huge renovation budget, and The Home Depot also offers a wide range of solar products and services designed to fit any home and budget.
Begin with a free in-home consultation with one of our professional consultants who can help you determine your needs and plan your project. To further help homeowners afford home remodeling projects, The Home Depot offers financial assistance options including specialized credit cards for project loans.