Estimat The Cost Of Installing Solar Panels

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.

Estimat the cost of installing solar panels. Regardless of the exact cost of installation there are many affordable financing options for solar panel systems. Add in another 3 000 to 10 000 for other necessary components such as racks for the panels wiring solar inverter costs and the total solar panel installation cost would now be closer to 20 000. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you.

Solar panel cost data 2020 updated. Depending on the size of the system the solar panels cost would be between 4 000 and 16 000. Installation of panels for the average 5kw system ranges from 11 100 22 400. 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.

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

How does system size impact the cost of solar. 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. This is just the national average though and so your actual costs may be much more or much less depending on many factors such as location and your specific home. 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.

Solar power systems are very custom based on the home roof type shading and utility. In pennsylvania the average solar payback period is 10 66 years. Most homeowners pay between 16 532 and 30 820. On average installation and the system together can run between 15 000 and 25 000.