Calculating the budget for solar panels involves several factors. It’s a wise investment for your home’s energy efficiency. To estimate the cost, consider your energy needs, location, and available incentives. You can start by calculating your average monthly energy bill, which will help determine the size of the solar system you need. Generally, residential solar panel systems can cost anywhere from $10,000 to $30,000 or more. Factors influencing the cost include the size of the system, the type of solar panels (monocrystalline, polycrystalline, or thin-film), your location (solar irradiance), and any local incentives or tax credits. It’s essential to get multiple quotes from reputable installers and consider financing options. Also, keep in mind that while the initial investment might seem high, solar panels can lead to long-term savings on your energy bills.