How Much Does It Cost To Install Solar Panels

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

How much does it cost to install solar panels.

Solar panel costs for an average sized installation in the u s. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Installation of panels for the average 5kw system ranges from 11 100 22 400. Solar power systems are very custom based on the home roof type shading and utility.

A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. Homeowner can expect to pay around 3 per watt. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. For example a 5000 wattsolar panel installation would cost about 15 000.

September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. 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. Most homeowners pay between 16 532 and 30 820.

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. The cost of installing solar panels depends on many factors but a u s. 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.