On average, solar panels cost about $13,142 with average prices for a solar panel system ranging from $11,144 to $14,696 in the US for 2020 according to EnergySage. This is the estimated cost of installation after tax credits. The average cost of solar panels per watt is about $2.96 per watt with average prices ranging from $2.57 to $3.35 per watt.
You have most likely heard about how solar energy can lower your electric bills, but just how much do solar panels cost?
Use our solar panel cost calculator to get a more specific solar cost estimate based on your annual kilowatt hours of electricity used in your home. If you are looking for solar companies in your area; Alternative Energy, LLC offers some of the lowest solar panel installation costs in the entire United States! Get a free solar quote by filling out the short quote form for a free estimate.
Average Cost of Solar Panels
Solar panels cost about $13,142 with average prices for a solar panel system ranging from $11,411 to $14,874 in the US for 2020 according to EnergySage. This is the estimated cost of installation after tax credits. The average cost of solar panels per watt is about $2.96 per watt with average prices ranging from $2.57 to $3.35 per watt.
- Residential solar panels cost: $11,411 to $14,874
- Commercial solar panels cost: $50,000 to $500,000
- Solar carports cost: $14,350 to $67,275
- Solar panel removal and reinstall cost: $1,500 to $6,000
SolarReviews lists a similar price range for the cost of solar panels at around $14,119 or $3.18 per watt for a 6kW solar system after claiming the federal tax credit.
How Much Do Solar Panels Cost Per Kilowatt?
The average cost of solar panel installation per watt is about $2.96 per watt with average prices ranging from $2.57 to $3.35 per watt in the US for 2020 according to data provided by EnergySage.
The average cost of solar panels per watt is about $.60 per watt with average prices ranging from $.50 to $.70 in the US according to WholesaleSolar.
How Much Do Solar Panels Cost Per Square Foot?
Solar panels cost about $7 per square foot with average prices ranging from $4 to $10 per square foot in the US for 2020 according to one source.
HomeGuide says, “Cost of Solar Panels Per Square Foot. The cost of solar panels to power your house are $4 to $10 per square foot. However, most installers estimate solar costs by the amount of energy needed, at $2.53 to $3.15 per watt before any tax credits or incentives.”
Solar panels for a 1,500 square foot house cost about $18,500, with average prices ranging from $9,255 to $24,552 in the US for 2020.
According to Modernize, “Solar panel installation costs around $18,500 for a 6kW solar panel system for a 1,500 square ft. home and the price per watt for solar panels can range from $2.50 to $3.50. Residential solar panels are usually sized at 3kW to 8kW and can cost anywhere from $9,255 and $24,552 in total installation costs.”
How Much Do Commercial Solar Panels Cost?
The average cost of commercial solar panels is about $2.87 per watt with average prices ranging from $2.50 per watt to $3.22 per watt in the US for 2020 according to EnergySage. This estimated price of commercial solar is before subtracting solar incentives or rebates. You can expect to pay about $50,000 for a 25kW solar system, $100,000 for a 50kW solar system, $200,000 for a 100kW solar system, all the way up to $500,000 for a 250kW solar system after subtracting the solar tax credit.
SunPower states a similar price range of $2.58 to $3.38 per watt for commercial solar panel installation.
How Much Does a Solar Panel System Cost?
An entire solar panel system will cost you anywhere from $15,000 to $25,000 on average with the price per watt ranging from $3 to $5 per watt.
According to NerdWallet, “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. That cost is before any tax credits and incentives.”
Solar Panels Cost By State
Cost estimates are based on a 6kW solar system after deducting the 26% federal solar tax credit.
|State||Cost Per Watt||Total Cost|
|Alabama||$2.85||$10,411 to $14,874|
|Arkansas||$3.91||$14,368 to $18,587|
|Arizona||$2.88||$11,000 to $13,348|
|California||$3.44||$11,500 to $14,700|
|Colorado||$3.15||$12,900 to $15,600|
|Connecticut||$2.81||$14,200 to $18,500|
|Florida||$2.65||$10,900 to $15,300|
|Georgia||$2.96||$12,665 to $17,135|
|Kansas||$2.51||$12,678 to $17,481|
|Kentucky||$3.04||$16,547 to $20,326|
|Idaho||$3.00||$12,750 to $17,250|
|Illinois||$3.11||$13,345 to $18,055|
|Indiana||$3.05||$12,962 to $17,538|
|Louisiana||$3.36||$18,622 – $22,077|
|Maryland||$12,700 to $15,600|
|Massachusetts||$3.25||$12,300 to $16,400|
|Nevada||$2.87||$12, 198 to $16,502|
|New Hampshire||$14,600 to $17,600|
|New Jersey||$12,800 to $13,500|
|New Mexico||$12,300 to $15,700|
|New York||$13,600 to $19,300|
|North Carolina||$13,000 to $16,400|
|Ohio||$12,000 to $16,100|
|Oklahoma||$15,100 to $19,200|
|Oregon||$13,300 to $17,100|
|Pennsylvania||$12,500 to $16,700|
|Rhode Island||$14,600 to $18,200|
|South Carolina||$13,400 to $16,300|
|Texas||$11,900 to $14,100|
|Utah||$11,022 to $14,045|
|Virginia||$13,200 to $17,500|
|Washington||$15,200 to $19,800|
NOTE: These ranges are system prices after the 26% federal tax credit for solar.
How Much Do Residential Solar Panels Cost?
Residential solar panels cost about $16,200 to $21,400 depending on the size of the solar system you purchase.
According to SunRun, “the outright cost of a typical home installation ranges from $16,200 to $21,400, which is a 62% average annual decrease.”
Modernize says, “Solar panel installation costs around $18,500 for a 6kW solar panel system for a 1,500 square ft. home and the price per watt for solar panels can range from $2.50 to $3.50. Residential solar panels are usually sized at 3kW to 8kW and can cost anywhere from $9,255 and $24,552 in total installation costs.”
How Much Does It Cost to Install Solar Panels?
Depending on the source you check, solar panels cost anywhere from $11,144 to $25,000 on average. Actual solar panel installation prices depend on where you live and other factors.
According to EnergySage, “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.”
NerdWallet states, “the true cost of solar panels, and whether they’ll help you save money, depends on a few key factors. On average, installation and the system together can run between $15,000 and $25,000“
How Much Do Solar Panels Save?
You can save about $20,000 on average over the lifetime of your solar panel system with the average homeowner saving about $10,000 to $30,000 over a 20 year span. This estimated cost, provided by EnergySage, is based on a solar system size of 6kW, electricity demand of $10,972 kwh per year, and an utility inflation rate of 2.2%.
Your actual cost will depend on the city and state you live in.
Free Solar Solar Panels
If you’re not paying with cash, the catch with free solar panels is that you are required to get a home equity line of credit on your home (HELOC), get a personal loan from a bank or another lender, enter into a solar loan with a solar company, or in the worst-case scenario, lease the solar system (and only lease if you don’t pay Federal Taxes). Free solar panels are a great way to get started with solar at no-cost.
According to EnergySage, “The term ‘free solar panels’ is sometimes used to advertise solar lease or solar power purchase agreements (PPAs)”.
You are required to make a small monthly loan or lease payment. However, you should know that solar leases are not worth it – solar loans are worth it. You will never own your solar panels like you will with a solar loan. Learn more about solar financing options below.
Are Solar Panels Worth It?
Yes, solar panels are absolutely worth it. Solar panels can increase your home value, can save you up to 100% on electricity, and the federal government will take care of 26% of the cost. Plus, most homeowners pay off their solar panels in less than 8 years which means you will enjoy 17 to 27 years of free electricity after paying off your panels.
According to EnergySage, you don’t have to live in the Southwest to receive savings from solar. This is because the Northeastern states typically payer higher electricity rates and local governments offer better solar incentives.
Do Solar Panels Increase Home Value?
Yes, solar panels can increase home value in many states. According to a publication on Electricity Markets & Policy, homes with solar panels installed on them sell for $15,000 more than homes without a solar system. According to EnergySage, a new study shows that solar panels will also increase your home value in Connecticut, Pennsylvania, Arizona, California, New York, North Carolina, Maryland, Massachusetts, and Florida. On the other hand, choosing to lease solar panels will decrease your home’s value. A leased solar system can lower a home’s value by 3%-8% in Phoenix, Arizona.
How Long Does it Take To Payoff Solar Panels?
It takes about 8 years to pay off solar panels on average according to data provided by EnergySage. After you pay back your solar panels you will enjoy free electricity for the remainder of the life of the system. Solar systems typically last 25 to 35 years.
Professional Solar Panel Installation by Alternative Energy, LLC
Alternative Energy, LLC offers affordable solar panel installation, off-grid solar systems, residential solar panels, solar batteries for home & business, solar air conditioning, solar carports & canopies, commercial solar panels, solar EV charging stations, solar panel removal and reinstall, solar panel repair, and other very effective energy-saving products & services. View our solar financing options. We offer solar panel installation all over the entire United States.