Average Cost To Add Solar Panels

Your solar panel system could be undersized to begin with or you might have increased your electricity usage since installation due to new additions to your house new appliances or adding an electric.

Average cost to add solar panels.

But you may want to add more solar panels to your existing system. With a standard solar energy system the economics are fairly easy to understand. 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. Solar panel costs for an average sized installation in the u s.

Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. Installed home solar system cost by. 5 minutes if you ve gone solar you ve already decreased or possibly eliminated your electricity bill.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors. If you have high electricity bills installing solar panels to produce your own power is an investment that will pay off in just a few years. On average installation and the system together can run between 15 000 and 25 000. If your home came with solar panels installed already then the cost to insure solar panels is already included in your homeowners insurance premium.

Solar power systems are very custom based on the home roof type shading and utility. For instance in new york the price of solar panels is 12 264 16 044 for a 6 kw system for a residential home. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range.

Most homeowners pay between 16 532 and 30 820. In utah another very competitive solar market where the average system size needed is 5 7 kw and the average system cost per watt is 2 73 the average cost of an installed residential solar system is 15 561 before the tax credit and around 11 515 after the 26 solar tax credit. The average cost of installed residential solar power systems is currently 2 60 per watt. These prices are after taking advantage of the 30 federal tax credit.

Installing a solar panel system costs an average of 23 597 and dropping.