Solar Panels Cost
Written by Alternative Energy

How Much Do Solar Panels Cost?

Solar Panels Cost

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.

You have most likely heard about how solar energy can lower your electric bills, but just how much do solar panels cost?

Solar Panel Cost Calculator

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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.

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?

Solar Panels Cost Per Watt

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 Commercial Solar Panels Cost?

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.

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 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.

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Alternative Energy, LLC offers affordable solar installationoff-grid solar systemsresidential solar panels, solar batteries for home & business, solar air conditioningsolar carports & canopiescommercial solar panels, solar EV charging stations, 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.

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