Is Solar Panels Worth The Cost

The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied.

Is solar panels worth the cost.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. On average installation and the system together can run between 15 000 and 25 000. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. 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.

A recent report by the u s. The bigger isn t always better mantra is one of the main reasons we strongly encourage homeowners to consider all of their solar options not just the brands large enough to pay for the most advertising. How much do solar panels cost for an average home. The average cost to install a system of solar panels is anywhere from 15 000 to 25 000 per the center for sustainable energy.

Government found that large installers are 2 000 to 5 000 more expensive than small solar companies. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.