Cost Savings From Solar Panels

Start comparing custom quotes on the energysage marketplace to see your estimated savings from solar.

Cost savings from solar panels. A standard 6 kw residential solar system has dropped from 44 000 down to 15 200 over the past decade not including the federal solar tax credit. But that doesn t mean that the best quality solar panels are the most cost effective. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. A more universal way of looking at cost is to determine the cost per watt.

Solar panel cost data 2020 updated. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. These savings are very real and their relative strength depends on the availability of local city and state incentives. Using data gathered from different sources solar reviews was able to extrapolate the average cost per watt for solar panels in each state as well as how much they could save over the lifetime of the installation.

Most solar panels are sold for about 0 70 per watt if bought in bulk. Included was also the average roi per state. The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system. Estimates are based on the average rate of decline.

A visual look at cost and savings. Cost of solar panels over time the average cost of solar panels has fallen 65 from 7 34 per watt in 2010 to 2 53 per watt in 2019.