Solar panels will generally cost $20,498 in 2022. For a 10 kW system, that comes to $2.77/W after subtracting the federal solar tax credit of 26%. The size of the solar system, the state where it is installed, and the brand of the panels will all be taken into account when determining the price of solar in this article.
Key takeaways about solar panel cost– Total average solar installation cost ranges from $17,538 to $23,458 after the 26 percent federal solar tax credit.
– The cost of solar has fallen about 13 percent over the past 5 years.
– The best way to get a fair price for solar?
Solar panel cost in 2022
A solar panel installation will cost between $17,538 and $23,458 in 2022 when the federal solar tax credit is taken into account. Costs for a single solar panel range from $200 to $250. After applying the federal solar tax credit, the average cost of a 10 kilowatt (kW) solar panel installation is $20,498 ($27,700 without the benefit). In 2022, the average cost per watt ($/W) for solar panels will be $2.77.
Solar installations are a special kind of product since the typical cost of solar panels can vary greatly depending on your state and the manufacturer of the solar panels you choose. The following are the main variables that affect the cost of solar installation:
- System size: Your solar panel system will cost more the larger it is. Importantly, the average cost of solar energy per unit falls as system size rises.
- Location: Pricing varies by state as a result of regional quotation patterns as well as variations in system sizes; thus, regions with higher average system sizes will have lower average solar costs.
- Panel brand and quality: Like any product or appliance, solar panels come in varying quality.
- Roof characteristics: The price of installing solar panels includes more than simply the cost of the hardware. The intricacy of the installation will also be charged for by your solar contractor, so if your roof is complicated, your system may end up costing more.
- Labor: The labor prices charged by various solar providers vary. You might decide to spend more money with a more renowned business that has higher ratings and a quicker installation schedule.
- Permitting and interconnection: Paying for permits and your hookup fee to the grid will somewhat increase the final cost of your solar installation, however it won’t be a significant influence.