Average Cost Of Residential Solar Panel Installation

That cost is before any tax credits.

Average cost of residential solar panel installation. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. Installation for the average 5kw system ranges from 11 100 22 400. The average cost of installed residential solar power systems is currently 2 60 per watt. As of september 2020 the average solar panel cost in colorado is 3 14 w given a solar panel system size of 5 kilowatts kw an average solar installation in colorado ranges in cost from 13 345 to 18 055 with the average gross price for solar in colorado coming in at 15 700 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the.

A decade ago an average 6 kilowatt hour residential solar system could cost more than 50 000. Installing a solar panel system costs an average of 23 597 and dropping. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. Most homeowners pay between 16 532 and 30 820.

No two solar power systems are the same. 2 from the price of hardware to ongoing maintenance learn more about the cost of home solar. Explore solar panel installation services. They are custom based on the home roof type shading and utility.

Here s an example on how we can breakdown solar panel cost and what it typically costs for installing a system. In california where the average system required is 4 23 kw solarreviews research data shows that the average solar panel installation cost as of jan 2020 is 2 78 per watt meaning the 4 23 kw system would be 11 753 before the solar tax credit and 8 701 after the federal tax credit. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. Current industry average cost between 3 to 4 per watt average size solar panel system between 5 and 6 kilowatts a kilowatt is 1000 watts 3 26 per watt x 5 000 watts 16 300 per system before the 30 itc tax credit.

Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. 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. Solar panel costs for an average sized installation 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 years. 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.