How Much Does The Installation Of Solar Panels Cost

Solar energy systems experience economies of scale.

How much does the installation of solar panels cost.

Most homeowners pay between 16 532 and 30 820. Solar power systems are very custom based on the home roof type shading and utility. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. Installing a solar panel system costs an average of 23 597 and dropping.

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. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. The cost of installing solar panels depends on many factors but a u s. For example a 5000 wattsolar panel installation would cost about 15 000.

These figures are excluding solar tax credits which reduce costs by 30 to around 10 500. Homeowner can expect to pay around 3 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. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc.

Solar panel costs for an average sized installation in the u s. Solar panel cost data 2020 updated. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt.