Residential Solar Panel Installation Cost

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

Residential solar panel installation cost.

The cost of getting a residential solar power system installed will vary based on where you live and the region s number of peak sun hours. Solar panel costs for an average sized installation in the u s. Now the outright cost of a typical home installation ranges from 16 200 to 21 400 which is a 62 average annual decrease. Solar panel cost data 2020.

If your 6 6 kw system costs 10k in equipment they may charge you 20k for the installation bringing the grand total for the project to 30 000. A turnkey solution will charge 100 200 the cost of equipment to perform the installation. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. A system s size and your home s current energy consumption patterns also influence the installation costs and long term energy savings of solar panels.

There s more to the solar cost story. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. 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. Most homeowners pay between 16 532 and 30 820.

2 from the price of hardware to ongoing maintenance learn more about the cost of home solar. With installation an average residential 5kw size system costs between 3 and 5 per watt according to the cse which results in the 15 000 to 25 000 range. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. A decade ago an average 6 kilowatt hour residential solar system could cost more than 50 000.

With this credit you save 30 of your total solar installation cost through a tax credit. Solar panel installation cost varies by provider. 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.

When we take this 30 credit out of 16 300 we arrive at 11 410. 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. 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. How does system size impact the cost of solar.