How Much Are Residential Solar Panels Cost

However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt.

How much are residential solar panels cost.

Solar energy cost per kwh. Residential solar panels cost 2 53 to 3 15 per watt with most homeowners spending 2 70 per watt on average before any tax credits or incentives. Installation for the average 5kw system ranges from 11 100 22 400. 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.

A one time residential renewable energy federal investment tax credit itc is available for residential solar pv systems. Commercial solar costs 1 83 per watt on average. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. The credit is based on a percentage of the total solar pv system cost.

That cost is before any tax credits. 31 2019 a federal tax credit of 30 of the total system cost is available. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. 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.

Most homeowners pay between 16 532 and 30 820. No two solar power systems are the same. Installing a solar panel system costs an average of 23 597 and dropping. They are custom based on the home roof type shading and utility.

The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. If the system is placed in service before dec. Almost all states tend to fall within 50 cents of the 3 26 watt average we discussed earlier.