Average Cost Of Going Solar Panels

Knowing the average cost per watt is helpful but what does 2 91 watt actually mean for you.

Average cost of going solar panels.

Most people spend around 18 000 20 000 for an on grid solar panel system versus the 50 000 it costs to go entirely off grid. Solar panel costs for an average sized installation in the u s. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Given a solar panel system size of 5 kilowatts kw an average solar installation in new jersey ranges in cost from 12 240 to 16 560 with the average gross price for solar in new jersey coming in at 14 400.

The average cost of installed residential solar power systems is currently 2 60 per watt. Today it s around 0 13 per watt or about 600 times less. How does system size impact the cost of solar. Given a solar panel system size of 5 kilowatts kw an average solar installation in nevada ranges in cost from 11 518 to 15 582 with the average gross price for solar in nevada coming in at 13 550.

The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. On grid systems are usually less expensive. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power. As of september 2020 the average solar panel cost in nevada is 2 71 w.

A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. As of september 2020 the average solar panel cost in new jersey is 2 88 w. The price of solar has dropped by an incredible amount. 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.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. On average installation and the system together can run between 15 000 and 25 000.