How Much Money Do Solar Panels Cost
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Solar power systems are very custom based on the home roof type shading and utility.
How much money do solar panels cost. In 2017 the average price of a solar panel system is between 2 85 and 3 80 usd per watt including installation and equipment. The most popular solar panel system size is 5 kw 5 000 watts. Solar panel cost data 2020 updated. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.
Installation of panels for the average 5kw system ranges from 11 100 22 400. On average installation and the system together can run between 15 000 and 25 000. Simply put the more energy you want to generate the more solar equipment you ll need to get. The average price of a solar panel system before tax credits and incentives is about 17 000.
But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit.
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