Residential Solar Panel Installation Cost

There s more to the solar cost story.

Residential solar panel installation cost.

2 from the price of hardware to ongoing maintenance learn more about the cost of home solar. The average cost 3 36 per watt of the average solar system 5 kw in the united states is approximately 11 410. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. 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.

With this credit you save 30 of your total solar installation cost through a tax credit. 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 average cost of installed residential solar power systems is currently 2 60 per watt. A decade ago an average 6 kilowatt hour residential solar system could cost more than 50 000.

When we take this 30 credit out of 16 300 we arrive at 11 410. Solar panel installation cost varies by provider. Installing a solar panel system costs an average of 23 597 and dropping. Solar panel costs for an average sized installation in the u s.

Most homeowners pay between 16 532 and 30 820. 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. Now the outright cost of a typical home installation ranges from 16 200 to 21 400 which is a 62 average annual decrease. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

Solar panel cost data 2020. A turnkey solution will charge 100 200 the cost of equipment to perform the installation. How does system size impact the cost of solar. That cost is before any tax credits.

A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. 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. 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.