Home Solar Panels Average Cost

Most homeowners pay between 16 532 and 30 820.

Home solar panels average cost. The average installation on an american home is a 5 kilowatt 5kw system. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. 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.

So let s do the math. For 2017 the average cost per watt of solar systems in the us is 3 26 cents. The average cost of installing solar panels is 3 05 per watt according to solar comparison shopping marketplace energysage. No two solar power systems are the same.

The average cost of installed residential solar power systems is currently 2 60 per watt. They are custom based on the home roof type shading and utility. Explore solar panel installation services. 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.

Solar panel cost data 2020. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. While that cost is a stiff pill for many households to swallow it s common for utility companies to offer incentives or subsidies to offset solar system costs. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you.

So a 5kw system would cost around 25 000 35 000 before rebates. With the average system size tallying in at 6 kilowatts this means. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. Solar panel costs for an average sized installation in the u s.

If we multiply 5 000 watts by 3 26 we get 16 300. At the time of this writing solar panel installation costs range between 7 9 per watt. Installing a solar panel system costs an average of 23 597 and dropping.