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If you''re looking for every possible way to cut the upfront cost of solar panels, you''re not alone. Switching to solar can lead to substantial savings on electricity bills, but the initial five-figure bill can feel like a bombshell.
Fortunately, you don''t have to sacrifice performance for price these days. Solar technology is no longer novel, and plenty of companies produce quality, affordable solar panels. While you probably won''t get it all with cheaper solar panels (price, efficiency, a low temperature coefficient, and an outstanding warranty), you should end up with a system that fits your needs and makes financial sense in the short and long term.
AXITEC, Jinko Solar, LONGi Solar, REC Group, and QCELLS are our top picks for the best cheap solar panels based on their price per watt ($/W) and performance.
The solar panel with the cheapest price tag may not be the most cost-effective option in the long term. Consider efficiency, performance, and warranties when comparing your options.
Many of the EnergySage Buyer''s Guide''s most affordable solar panel brands also produce some of the best solar panels. Here are our top picks for the best cheap solar panels based on the average cost per watt and performance.
At just $2.36 per watt, AXITEC offers the cheapest solar panels per watt on our list. The German manufacturer offers average warranties and isn''t a top performer in terms of performance or resiliency, but AXITEC panels can be a great way to go solar on a budget.
Jinko Solar made our 2024 list of best solar panels for "Best performance per penny," securing its position as not only one of the best cheap solar panels but a top contender overall. Jinko is a highly reliable solar panel at a well-below-average price. It''s not the most efficient panel on our list, but if you''re looking for a quality panel that won''t break the bank, Jinko Solar is a solid option.
LONGi Solar produces high-efficiency PERC solar cells at an incredible price. While other brands offer better warranties and temperature coefficients, LONGi solar panels'' efficiency ratings are up there with some of the top brands on the market. If you''re trying to go solar on a budget but aren''t willing to sacrifice efficiency, LONGi solar panels are a great solution.
REC Group solar panels are the most frequently quoted brand on EnergySage and, based on our latest Intel Report, the least expensive (when paired with the Solar Edge inverter) of our top brands. REC Group isn''t the cheapest solar panel available, but unlike some other brands on this list, they don''t just compete for affordability. REC Group produces efficient, high-performance solar panels comparable to premium brands like SunPower and Maxeon—but about 19% cheaper.
QCELLS solar panels are the most expensive on our list but still among the least expensive and most popular solar panels quoted on EnergySage. We analyzed the price difference of some of the most frequently quoted products on the Marketplace and found that QCELLS solar panels (when paired with the Enphase inverter) are just 1.1% more expensive than the cheapest equipment pairing. Like REC Group, QCELLS is a top solar panel manufacturer that offers a great bang for your buck.
Cheaper solar panels can be worth it, but it depends on your needs. Are you looking to install the most efficient solar panel system possible? In that case, going with a more expensive but highly efficient panel from a brand like SunPower may be worth it. But if you''re going solar on a budget, plenty of affordable options provide excellent value. Either way, it''s important to consider your options'' long-term vs. upfront costs to better understand the true cost-effectiveness of a solar panel system.
Just because a product is cheaper doesn''t mean it''s the most cost-effective option; just because a product is more expensive doesn''t mean it''s necessarily the most valuable. To understand a solar panel''s long-term value, consider its efficiency, performance, and warranties in addition to the upfront cost.
Generally, solar energy''s value lies in effectively converting sunlight into available power, which high-efficiency panels do best. Finding the lowest possible price tag for your solar panel installation might sound like the best way to save money when you go solar, but the payback period of your solar panel system might take twice as long, and your panels may never earn the return you expected.
In 2024, the average cost of solar panels is around $2.86/W before incentives. Between falling prices, incentives and rebates, and flexible financing options, you likely won''t need to pay serious cash out of pocket to get the best solar panel deal. The federal solar tax credit alone decreases the cost of solar by 30%, and most solar loans today don''t require you to pay any money down.
Solar energy prices fluctuate as economics in any industry do, but the general trend remains downward. After two years of steady increases in solar prices on EnergySage, our median price per watt decreased for the first time since 2021 during the second half of 2023.
As technology improves and solar energy becomes more accessible, prices will drop further. The Department of Energy aims to cut solar energy costs by 60% by 2030 by providing $128 million in funding to research and development efforts to make solar energy more efficient, deployable, and affordable for people across demographics.
Installing solar panels in the United States will cost about $22,022. Other home electrical upgrades, such as a solar battery or an EV charger, will also increase your overall cost.
You can save about $42,000 over 25 years by installing solar. The lifetime savings of your solar panel installation depends on where you live and the cost of electricity.
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