The 2023 Guide To Cheap Solar Panels

There are some advantages of buying solar panels, including reducing your electric bills (and your carbon footprint), improving home value and energy independence from the grid. However, solar panels can be expensive, and it's natural to consider how you might be able to purchase cheap solar panels.

Let's walk through how you can enjoy the benefits of this source of renewable energy while reducing your costs by using the following tips.

What's the average cost of installing solar panels? They typically cost $16,000 on average, or between $3,500 – $35,000, depending on the model and type. The factors that will affect your final bill include the materials used in your solar panels, installation costs, solar panel company, the tax credit you receive, location and more.

Use the following recommendations to help them find the most affordable solar panel option.

The first step involves researching common types of photovoltaic residential solar panels, including polycrystalline, monocrystalline and thin-film solar panels.

Different solar companies use a wide variety of pricing strategies. Compare multiple types of panels and several different manufacturers to help find affordable solar panels that best fits your budget, including pricing the inverter. An inverter converts direct current (DC) to alternating current (DC).

Next, collect installation quotes from a few installation companies. Certain factors could make certain installers less expensive than others, such as their overhead costs, the system's design, quality of equipment used, warranties and other factors.

Getting a low price is important but it's a good idea to consider other factors when shopping for solar panels. Check the following before purchasing, including:

Some manufacturers or retailers may offer special discounts for homeowners who order a large number of solar panels. Consider teaming up with neighbors or family members to purchase enough panels for a discounted price.

You can either lease or buy solar panels. Leasing a home solar system lease means that you don't own the panels on your roof, pay a monthly fee to use the panels. You exchange the electric bill from your utility company for a lowered bill from a solar leasing company. Leased panels allow the reader to pay directly for the solar energy created by their system. Leased periods usually have a 20-year duration and you may be able to buy the solar system at a discounted rate at the end of the lease.

Pros of a solar lease:

Cons of a solar lease:

Several state and federal government agencies offer solar panel incentive programs to homeowners, including:

Type of Loan

Home Description

Property Use

Your Credit Profile

When do you plan to purchase your home?

Do you have a second mortgage?

Are you a first time homebuyer?

Congratulations! Based on the information you have provided, you are eligible to continue your home loan process online with Rocket Mortgage.

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You can find discounted or secondhand panels from solar panel installers, traffic sign rental companies, online marketplaces and friends and family.

You can contact a solar installer about free or discounted panels. Some installers collect old panels from customers and you may be able to get them for a low price. In many cases, to get completely free panels you must sign a lease. However, if you help an installer remove the panels, they may give you a discount.

You can also check with local traffic sign rental companies for free or discounted panels. Look for those blinking highway signs and call the number on the sign. However, it's important to note that these panels may be damaged by rock chips or cracks.

Some homeowners may sell old solar panels online through a marketplace or resale site. Check your local classified ads for solar panel listings. Look on Facebook Marketplace, Craigslist, etc.

You may also find solar panels by word of mouth. Ask friends, family members and neighbors if they have any solar panels they want to dispose of. You'll likely get an accurate history of the solar panels because you know the person who owned them before you.

Learn more about affordable solar panels by reading the answers to the following frequently asked questions.

Take a look at the least expensive solar panels available to homeowners based on price per panel, power rating, efficiency rating and warranty length.

Cheap Solar Panel

Price per Panel

Price per Watt

Efficiency Rating

Warranty

Renology 100W 12-Volt Solar Panel

$125

$1.25

21%

1-year materials warranty

LONGi #LR6-60-HPB-350M

$225

$0.60

20.3%

Limited 25-year warranty

Canadian Solar Model #CS1H-315MS

$225

$0.71

18.68%

25-year output warranty

Silfab Solar – SIL-330 NL

$250

$0.76

17.3%

12-year module warranty

LONGi #LR4-60-HPH-360M

$260

$0.72

19.8%

25-year output warranty

You may also want to consider purchasing a DIY solar panel kit. Let's take a look at the pros and cons of installing solar panels yourself

Pros:

Cons:

Cost-effective solar panels are typically less efficient than expensive solar panels because they have fewer solar cells and produce less energy. Higher-performing solar panels could save you more money over time by more effectively lowering your electricity bill.

It is possible to find affordable solar panels, such as through solar panel installers, traffic sign rental companies, online marketplaces and from friends and families. Don't forget to consider other factors when pricing discount solar panels, such as efficiency, power output and quality, when you shop.

Type of Loan

Home Description

Property Use

Your Credit Profile

When do you plan to purchase your home?

Do you have a second mortgage?

Are you a first time homebuyer?

Congratulations! Based on the information you have provided, you are eligible to continue your home loan process online with Rocket Mortgage.

If a sign-in page does not automatically pop up in a new tab, click here

Melissa Brock is a freelance writer and editor who writes about higher education, trading, investing, personal finance, cryptocurrency, mortgages and insurance. Melissa also writes SEO-driven blog copy for independent educational consultants and runs her website, College Money Tips, to help families navigate the college journey. She spent 12 years in the admission office at her alma mater.