How Much Should Solar System Cost

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.

How much should solar system cost.

Is 2 91 per watt 34 920 for a 12 kilowatt system. Solar panel cost data 2020 updated. That means that the total cost for a 12kw solar system would be 25 841 after the 20 federal itc discount not factoring in any additional state rebates or incentives. The fair market 2016 installed price for a home solar power system is 900 to 1 200 per panel a tax credit reduces the cost by 30.

Considering the average home installs a 6 200 watt solar panel system the average homeowner has an estimated cost of 18 600 to install solar panels. Solar panel cost in 2020. Solar panel costs for an average sized installation in the u s. What range of costs should you expect to see in quotes for a solar panel system.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Cash buying your solar electric system outright is best. The average cost of installed residential solar power systems is currently 2 53 per watt a typical 6kw system costs 11 248 after claiming the 26 solar tax credit. As of july 2020 the average cost of solar in the u s.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. 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. How does system size impact the cost of solar. In utah another very competitive solar market where the average system size needed is 5 7 kw and the average system cost per watt is 2 73 the average cost of an installed residential solar system is 15 561 before the tax credit and around 11 515 after the 26 solar tax credit.

With energy prices on the rise this may be the perfect time. The cost of a solar electric system is measured in dollars per watt. 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. This is just the national average though and so your actual costs may be much more or much less depending on many factors such as location and your specific home.

Larger systems should cost less per panel than smaller systems. How much does a 12kw solar system cost. That means the average 5 kw residential system will cost 15 000 25 000 prior to tax credits or incentives.