How Much Will It Cost To Install Solar Panels

With energy prices on the rise this may be the perfect time.

How much will it cost to install solar panels.

This includes all installation components. How does system size impact the cost of solar. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

Installing a solar panel system costs an average of 23 597 and dropping most homeowners pay between 16 532 and 30 820 expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. A system like this will cost around 4 700 5 700 total. Homeowner can expect to pay around 3 per watt.

The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. Solar power systems are very custom based on the home roof type shading and utility. 4 solar panel units of 150 watts. Solar panel costs for an average sized installation in the u s.

Usually range from 11 144 to 14 696 after solar tax credits and the average price per watt for solar panels ranges from 2 51 to 3 31. There are chances that you will find it difficult to install by yourself so it is wise to keep a budget for the installation work too. Solar panel cost data 2020 updated. A turnkey solution will charge 100 200 the cost of equipment to perform the installation.

These figures are excluding solar tax credits which reduce costs by 30 to around 10 500. In california where the average system required is 4 23 kw solarreviews research data shows that the average solar panel installation cost as of jan 2020 is 2 78 per watt meaning the 4 23 kw system would be 11 753 before the solar tax credit and 8 701 after the federal tax credit. Solar energy systems experience economies of scale. Unfortunately this is difficult to do well as you will likely run out of room on your roof.

Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. For example a 5000 wattsolar panel installation would cost about 15 000. The labor costs will depend on the difficulty of the installation work. If you want to be able to run absolutely everything using only solar power you will need a system that produces around 21 500 watts per day.

Installation of panels for the average 5kw system ranges from 11 100 22 400. If your 6 6 kw system costs 10k in equipment they may charge you 20k for the installation bringing the grand total for the project to 30 000.