How Much Does The Average Solar Panel System Cost

Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc.

How much does the average solar panel system cost.

How much does a 9 kw solar system cost. Solar panel cost data 2020. That cost is before any tax credits. As of september 2020 the average solar panel cost in florida is 2 65 w.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. Most homeowners pay between 16 532 and 30 820. Installation for the average 5kw system ranges from 11 100 22 400. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

As of july 2020 the average cost of solar in the u s. Is 2 91 per watt. Installing a solar panel system costs an average of 23 597 and dropping. No two solar power systems are the same.

Given a solar panel system size of 5 kilowatts kw an average solar installation in florida ranges in cost from 11 262 to 15 238 with the average gross price for solar in florida coming in at 13 250. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. 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. With installation an average residential 5kw size system costs between 3 and 5 per watt according to the cse which results in the 15 000 to 25 000 range.

The average cost of installed residential solar power systems is currently 2 60 per watt. This comes out to 26 190 for a 9 kilowatt system before federal tax incentives so the net cost of a 9 kw solar energy system would be 19 381 this cost doesn t factor in any state or utility rebates and incentives for going solar. Solar panel costs for an average sized installation in the u s. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range.