Average Cost Of A Solar Panel System

Back in 2010 the average price of a 4kw solar pv system was around 20 000 which means the cost of solar power has fallen by about 70 in the past nine years.

Average cost of a solar panel system.

Solar panel costs for an average sized installation in the u s. With the average system size tallying in at 6 kilowatts this means. What range of costs should you expect to see in quotes for a solar panel system. How does system size impact the cost of solar.

The good news is that solar panels just keep on getting cheaper. The average cost of installing solar panels is 3 05 per watt according to solar comparison shopping marketplace energysage. Installing a solar panel system costs an average of 23 597 and dropping most homeowners pay between 16 532 and 30 820 expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. In january 2018 president trump imposed a four year tariff on imported solar cells and panels that started at 30 and drops 5 each year.

With energy prices on the rise this may be the perfect time. Average lease costs are between 50 250 per month based on the size and overall production of your system. Solar panel cost in 2020. High installation costs keep many homeowners from buying and installing solar panels that they own.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Changes in government trade policy also impact prices. The average cost of installed residential solar power systems is currently 2 64 per watt a typical 6kw system costs 11 722 after claiming the 26 solar tax credit. The majority of solar panels are around 250 watts which means you d need four panels to create a 1 kilowatt peak 1kwp system eight panels to create a 2kwp system.

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. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.