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.
- Eep 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 you sell electricity back to the grid in Tennessee?
Tennessee Net Metering it also lowers your monthly electricity bills. If your system produces more energy than you need, the excess power is sold back to the grid. That amount of energy is deducted from your monthly bill or credited toward a future bill.