How Much To Have Solar Panels Installed

The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied.

How much to have solar panels installed.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. These figures are excluding solar tax credits which reduce costs by 30 to around 10 500. Installation of panels for the average 5kw system ranges from 11 100 22 400. Solar power systems are very custom based on the home roof type shading and utility.

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. A recent study found that solar panels are viewed as upgrades just like a renovated kitchen or a finished basement and home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array. Solar panel costs for an average sized installation in the u s. For example a 5000 wattsolar panel installation would cost about 15 000.

This includes all installation components. We then took 11 000 kwh and divided it by the respective ratios and then divided that number by 250 the typical panel wattage. 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. 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.

To put these prices into context the cost of solar panels for a 3 bedroom house will be around 5520 6040 as they ll need to install a 3 4kw system to meet the higher electricity demands. The cost of installing solar panels depends on many factors but a u s. In order to find a range for number of solar panels we compared arizona and maine s solar panel production ratios 1 31 and 1 61 the highest and lowest in the u s. Buying a solar energy system will likely increase your home s value.

A system like this will cost around 4 700 5 700 total. Solar energy systems experience economies of scale.