How Much Does The Installation Of Solar Panels Cost

A typical 6kw system costs 11 544 after claiming the 26 solar tax credit.

How much does the installation of solar panels cost. Installing a solar panel system costs an average of 23 597 and dropping. 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. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt.

Installation of panels for the average 5kw system ranges from 11 100 22 400. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. Solar energy systems experience economies of scale. Homeowner can expect to pay around 3 per watt.

Solar panel costs for an average sized installation in the 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. The cost of installing solar panels depends on many factors but a 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.

Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. Solar power systems are very custom based on the home roof type shading and utility. For example a 5000 wattsolar panel installation would cost about 15 000.