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That means that the total cost for a 12kw solar system would be 25 841 after the 20 federal itc discount not factoring in any additional state rebates or incentives.
Cost to install 12kw solar panels nj. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. How much does a 12kw solar system cost. Is 2 91 per watt 34 920 for a 12 kilowatt system. Solar power systems are very custom based on the home roof type shading and utility.
The average home in new jersey needs a 7 2 kw solar panel system to meet its energy needs. Installation of panels for the average 5kw system ranges from 11 100 22 400. As of september 2020 the average solar panel cost in new jersey is 2 88 w. 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. 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. As of july 2020 the average cost of solar in the u s.
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