Cost and Payment Options
How much do solar panels cost?
The answer depends on the number of solar panels you install. When you request a custom quote, our team evaluates your energy usage patterns as well as sunlight and climate data for your region. This information also helps determine the availability of state and federal tax rebates, renewable energy credits, and utility incentives.
The initial cost of going solar also depends on whether you buy or lease solar panels. Buying solar panels is more expensive upfront compared to leasing, but maximizes the long-term financial benefits of going solar. Buying an average-size solar panel system generally costs $10,000 - $25,000 (including installation), before additional savings from rebates and tax incentives. Leasing a solar panel system is $0-down and has fixed monthly payments. Whether you buy or lease, the solar energy you produce will lower your utility bill.
Price and savings vary based on location, system size, government rebates and local utility rates. No security deposit required. A 3kW system starts at $25-$100 per month with an annual increase of 0-2.9% each year for 10-20 years, on approved credit. Tesla is not the lender and only the third-party lender may approve, offer, or make a loan.
What payment options are available?
With solar panels, we offer a few options for payment:
|Cash||Purchase your system outright and own your energy from day one.
|Loan||Similar to a car loan, you can finance your solar purchase through Tesla and pay in monthly installments. You’ll immediately benefit from tax credits and savings on your utility bill.
|Lease||With a lease, you’ll make low monthly payments with no money upfront.|
What’s the best payment option for me?
The best option for paying for solar panels depends on your goals:
|Upfront Payment||Monthly Cost||Tax Incentives||Do I own the system?|
|Buy||Pay for everything upfront||None||Yes||Yes|
|Loan||Pay partial or nothing upfront||Predictable||Yes||Yes|
|Lease||Pay nothing upfront||Predictable||No||No|
What tax credits and rebates am I eligible for when I go solar?
The Federal investment tax credit (ITC) covers up to 30 percent of the solar power system cost. If you do not expect to owe taxes this year, you can roll over your federal solar tax credit to the following year. The amount of state tax credit or rebate varies by state and will be in included in your custom quote.
What happens if I want to sell my home and I have an ongoing solar panel lease?
If you move, we will help transfer your solar power system’s contract to the new owners. Our team takes care of everything while you focus on transitioning into your new home.