Get matched with top solar panel pros in East Rutherford, NJ

The average-sized home in the U.S.—around 2,500 square feet—will require between 15 and 34 solar panels to power the whole home. The specific number, however, will have less to do with home size and more to do with how much energy you use each year and the amount of sunlight in your region.

The average cost to install solar panels is around $26,600, and most homeowners pay between $4,500 and $53,000. Keep in mind that these prices don’t consider the federal investment tax credit (ITC), which can effectively reduce those costs by up to 30%. The price you can expect to pay for solar panel installation depends on the size of the system, where you live, the type and brand of panels, and the labor costs. Get price quotes from at least three solar companies in your area to find the best deal.

• Installing a new electrical meter box

• Replacing your meter base

• Replacing your service entrance cable 

The cost to install or upgrade an electrical meter box ranges from $100 to $650, including $50 to $250 for the unit. The meter base passes the power from your electric company to your panel. The cost to replace a meter base is roughly $50 to $250. 

Service entrance cables are electrical cables with multiple wires, bringing power from electrical companies to residential buildings. The cost to replace a service entrance cable ranges roughly from $1,000 to $1,500.

In most cases, solar panels are covered by homeowners insurance. However, you’ll need to read the fine print of your particular home insurance policy to ensure you’ll receive coverage for various incidents that could take place. For example, some policies only cover hail damage. Check with your provider to make sure your policy has adequate coverage.