How Much Do Solar Panels Cost? โ Forbes Home
Your actual cost depends on your home''s energy needs, roof
Mounting system: This is what holds rooftop solar panels in place. Costs vary depending on the type of solar installation, but it generally costs between 7 and 20 cents per watt. Electrical wiring and hardware: This includes the wiring, switches and circuit breakers required to connect the solar panel system to your home's electrical system.
According to studies by the U.S. Department of Energy, the all-in cost of a home solar panel system is between $2.74 to $3.30 per watt. 1,2,12 This figure includes the solar panels, the installation, and other expenses. Using these numbers, an average-sized 8-kilowatt residential solar system would cost between $21,900 โ $26,400.
Solar panel installation costs vary by the installation company and project scope, making it challenging to pinpoint exactly how much you'll pay to have a pro install your solar panels. However, the U.S. Department of Energy estimates that installers add around $2.25 per watt to the cost of a solar panel installation.
At its core, solar panels are a home improvement project. And like many upgrades, they require planning, permitting, and inspections โ all of which take time, money, and expertise. Installing the entire system at once prevents duplicate costs for labor, permitting, shipping, and other soft costs.
PDF version includes complete article with source references.
Get specifications and technical data for our MW-scale energy storage and PV integration solutions.
45 Energy Innovation Park
London WC2H 8NA, United Kingdom
+44 20 7783 1966
Monday - Friday: 8:00 AM - 6:00 PM GMT