Cost Of Solar Electric Panels

Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc.

Cost of solar electric panels.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Installation of panels for the average 5kw system ranges from 11 100 22 400. Installing a solar panel system costs an average of 23 597 and dropping. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

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. 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 years. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt.

Most homeowners pay between 16 532 and 30 820. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. Solar power systems are very custom based on the home roof type shading and utility. Solar panel costs for an average sized installation in the u s.

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. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt.