How Much Do Solar Panels Cost? – Switching to solar energy requires an up-front investment in equipment and installation. But after that initial cost, the only recurring charge is the electricity you use beyond the power your panels generate. Assuming your solar system is the right size for your home and is properly installed and maintained, homeowners typically see long-term savings on electricity bills and a return on their investment after several years.
The SEIA estimates the national average cost of a residential solar panel system is $2.94 per watt.* That translates to just under $11,000 for a 5 kW system, the average size of a standard residential solar system in the United States. The price of solar panels varies by brand and retailer. Keep in mind that solar panels are only a fraction of the total cost of going solar.
Installation (including supporting equipment) and ongoing maintenance make up the remaining expenses. The table below gives an overview of solar panel costs by state to give you a general starting point for pricing. For comparison, the Energy Information Administration breaks down electricity prices by state for 2020 and 2021.
Can I power my whole house with solar panels?
Can I Run My Whole House on Solar Energy? – With a modern solar energy system , including power storage, you can definitely run a whole house completely on solar power. Today’s high-efficiency solar panels and solar batteries make it cheaper than ever before to power an entire home exclusively using solar energy.
Solar panel systems and solar panel installation costs have continued to drop over the past two decades since the broad introduction of residential and commercial solar energy use. This is even though local and federal government rebates and tax credits , and utility company incentives continue to decline with each passing year.
The major drop in solar costs is partly due to the broader national and global adoption of solar energy and partly due to the rapid advancements in solar energy systems technologies. To determine the cost-effectiveness and other feasibility factors in operating a fully solar-powered house, start with these initial basic assessments:
