How Much Does Solar PV Actually Cost?

Solar Photovoltaic (PV) panels are often hailed as revolutionary, a way to get off the grid and realize savings to your power bill. That being said, despite proven savings at the end of the month, solar PV installation costs can often seem prohibitive. Lets take a closer look to see if installing solar PV in Northern Nevada makes sense for you and your home or business. According to the Lawrence Berkley National Laboratorys 2013 report, costs of solar PV have fallen dramatically in the last 3 years. This is a continuation of an ongoing trend since they began monitoring solar PV costs in 1998.

This marks the third year in a row of significant price reductions for PV systems in the U.S.

In 2012 alone, costs for solar PV installation, before rebates or tax incentives, fell 6%. This trend includes residential, commercial and industrial solar PV installation costs. “This marks the third year in a row of significant price reductions for PV systems in the U.S.” explained Galen Barbose of Berkeley Lab’s Environmental Energy Technologies Division, one of the report’s co-authors. Prices in California fell another 10 percent to 15 percent over the first half of 2013, suggesting that prices in 2013 will fall at least as much as they have in recent years.

However, the soft costs of installing solar PV can vary considerably, from state to state or county to county even, in the United States. These soft costs can include, but are not limited to:

  • tax incentives
  • rebates
  • sales tax
  • consumer preference
  • competing businesses
  • geographic location (i.e. urban or rural)

Policymakers at the state and federal level will play a key factor in the future costs of solar PV. It’s also difficult to pin down how much solar PV installation in Northern Nevada will save you on your monthly bill. Your own energy consumption, as well as your current energy costs, will play a large factor in the savings solar PV in your home or business. If you are interested in a consultation or quote about solar PV costs or installation, just give us a call