How much do solar panels cost?

Receive up-to-date information and news about what is going on in the solar industry, updates on our services and features, and more. Solar panels cost an average of $19,000 to install. That’s expensive - but there are ways to reduce solar costs and increase savings.

How much do solar panels cost in 2024?

Here's an explanation for The average solar panel system in 2024 costs about $31,558 before factoring in tax credits and solar incentives. The Residential Clean Energy Credit is part of the Inflation Reduction Act and offsets the total cost of solar panels by 30 percent when you file your annual federal tax return.

How much does solar cost per watt?

Most of the time, you’ll see solar system costs listed as the cost per watt of solar installed so you can easily compare prices between quotes for different system sizes. The average cost per watt of solar is $3.00 per watt, but you may get some quotes that are slightly higher or slightly lower than average. Beware of extremely low solar prices.

How much does a solar system cost?

For example, the average cost of a solar system purchased through solar.com is 6-8 cents per kWh, depending on the size of the system, type of equipment, and local incentives. Let’s compare that to the average cost of utility electricity in each state. How Much Does Electricity Cost in 2024?

How much does a solar panel cost in Massachusetts?

Solar panel pricing is the most expensive in Massachusetts, where estimated costs are around $18,900 after the tax credit. What Impacts Solar Panel Cost? There are many factors that impact the overall cost of your solar system.

How much do solar panels cost in New Mexico?

Most homeowners will recover the cost of their solar panels in electric bill savings in 8.5 years, resulting in savings of $25,260 over the lifetime of their system. Homeowners in New Mexico have the cheapest solar panel costs, with an average price of $9,996 after using the federal solar tax credit.