Average Cost To Add Solar Panels

Energy sage has a helpful list of average solar panel price ranges by state.

Average cost to add solar panels.

September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. For instance in new york the price of solar panels is 12 264 16 044 for a 6 kw system for a residential home. Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you. Solar power systems are very custom based on the home roof type shading and utility.

Solar panel cost data 2020 updated. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. 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. These prices are after taking advantage of the 30 federal tax credit.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Installing a solar panel system costs an average of 23 597 and dropping. Installation of panels for the average 5kw system ranges from 11 100 22 400. This includes all installation components.

Assuming you can find a way to install it a system like this will cost somewhere in the ballpark of 9 500 10 500 total. 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. Solar panel costs for an average sized installation in the u s. 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 does system size impact the cost of solar. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc.