Why are rooftop solar panels more affordable?

For homeowners, these global cost trends translate into more affordable rooftop solar installations. As utility-scale solar prices fall, residential systems also benefit from cheaper panels, lower installation costs, and more competitive financing.

How much does a rooftop solar system cost?

...who owns her home decides to purchase a rooftop solar panel system for approximately $15,000 with cash and receives a 30% tax credit. She can expect to save around $200 per month on her electricity bills and pay back the cost of the system in less than 5 years.

Does rooftop solar really work?

In 2024, rooftop solar was the fastest-growing source of electricity worldwide, according to data from the U.S. Energy Information Administration. Yet many homeowners still hesitate because of cost, myths and confusion about how the technology actually works.

Can you save money if you have solar on your roof?

Right off the bat, you can start saving money when you have solar on your roof. Most homeowners choose a $0 Down Loan, so they pay no money up front. Even with the loan payment, homeowners pay less each month overall! Tiered billing means the more energy you use, the more they charge you per kilowatt hour (kWh.) It’s how they measure energy usage.

Why should you install rooftop solar panels?

Staff from the National Renewable Energy Laboratory and GRID Alternatives Colorado install rooftop solar panels. Lowering electricity bills is one of the main reasons why consumers may decide to install rooftop solar panels.

Is rooftop solar cost-competitive?

However, according to a 2025 McKinsey article, rooftop solar remains cost-competitive in many markets, with the lifetime cost of electricity generated often cheaper than grid power.