When considering upgrading your home’s electrical system, the Span smart electrical panel stands out for its innovative approach to energy management.
Span Panel Costs
The cost of a Span panel, while appearing steep at first glance, reflects its advanced features and the value it adds to your home.
Purchasing a panel directly from SPAN currently costs $4,500 (excluding installation, taxes, and shipping). This price may be lowered to $3,900 with IRA federal tax credit eligibility.
Installation Costs and Factors Influencing Price
Installation costs for a Span smart electrical panel can vary widely, generally between $3,000 and $5,000, depending on several factors:
- Local labour rates: Geographic location affects the cost of professional services.
- Complexity of installation: Older homes or those requiring significant electrical system upgrades may incur higher costs.
- Additional components: Depending on your home’s setup, additional components like sub-panels or dedicated circuits may be necessary.
Tax Credits and Discounts
If you choose to purchase a SPAN panel it may also qualify for other incentives and cost-saving schemes in addition to the IRA federal tax credit ($600). The full list of incentives currently available includes:
- 25D Tax Credit: Offers 30% off equipment and installation costs when included in a solar installation.
- 25C Tax Credit: Up to $600 for panel upgrades with eligible energy-efficient installations.
- HEEHRA Upfront Discount: Offers up to $4,000 discount based on income level.
Total Expense Analysis
Currently, we estimate the average pricing for installing a SPAN panel to range from $8,250 to $9,250+, with potential reductions to $6,075 – $6,775 after applying the 30% Federal Investment Tax Credit (25D).
These incentives make the SPAN panel an even more appealing investment for homeowners looking to enhance their energy management and security.
