You’ve probably heard about how solar energy can reduce your electricity bills, but how much do solar panels really cost? The easiest way to calculate the average cost of solar panels is to look at its price in dollars per watt, which is relatively consistent across the United States.
How Much Do Solar Panels Cost?
As of early 2016, most U.S homeowners are paying $3 to $4 per watt to install a solar panel system, and the average cost per watt in the U.S. is $3.57 per watt. Using the national average for pv system size at 5 kW (or 5000 watts), the average cost of solar: $12,500 (after the Federal ITC discount).
That’s 12 percent lower than it was a year ago, and solar panel system costs are continuing to fall. However, to really understand what a single solar panel will cost and what a complete solar system will cost, it’s important to compare prices quoted to homeowners in your area – total costs can vary depending on the state that you live in.