Cost Of Solar Panel Installations

No two solar power systems are the same.

Cost of solar panel installations. Solar panel costs for an average sized installation in the u s. Considering the average home installs a 6 200 watt solar panel system the average homeowner has an estimated cost of 18 600 to install solar panels. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Solar panel cost data 2020 updated.

Current industry average cost between 3 to 4 per watt average size solar panel system between 5 and 6 kilowatts a kilowatt is 1000 watts 3 26 per watt x 5 000 watts 16 300 per system before the 30 itc tax credit. As i mentioned above currently as of april 2020 homeowners typically spend around 3 per watt for a complete solar panel system with installation. Here s an example on how we can breakdown solar panel cost and what it typically costs for installing a system. Most homeowners pay between 16 532 and 30 820.

Installation for the average 5kw system ranges from 11 100 22 400. 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. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. How does system size impact the cost of solar.

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. 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. They are custom based on the home roof type shading and utility.

In washington the average solar payback period is 11 41 years. 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. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems.

Solar panelinstallation cost guide. A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings.