- Maintenance and Repairs: Solar panels require minimal maintenance but may occasionally need cleaning and repairs. These costs are generally low but should be factored in. You’re looking at around $300 for an annual cleaning and inspection.
- Upfront Investment: The initial cost of purchasing and installing solar panels can be substantial. The price varies depending on the size of the system and location. According to ConsumerAffairs, the national average in 2023 after the federal tax credit is $16,751. This cost can be offset by long-term savings.
- Space Requirements: Solar panels require ample space on your property, ideally a south-facing roof or an open area with unobstructed sunlight. Not all properties may have the necessary space or orientation for optimal solar energy generation.