What is the Cost of a Solar System?
What is the Cost of a SOLAR SYSTEM?
The total price of a solar system includes all the parts, labor, permits, and overhead costs associated with installing it. The actual cost of a solar system will depend on your location, the size of the solar panels you install, and the amount of sunlight your home gets.
A 6 kilowatt solar website panel system will cost around $10,000 before tax incentives. The cost of a larger system may be higher because it requires more equipment and will be more difficult to install, so be sure to get quotes for a range of sizes before making your final decision.
$/W Cost Per Watt:
A solar energy system’s cost per watt is an important metric for comparing quotes and understanding how much you’ll pay to save money on your power bills. However, the cost per watt ($/W) doesn’t take into account the levelized cost of energy (LCOE).
Is Going Solar Affordable? Breaking Down the Costs of a Solar System
In the US, this figure is typically displayed as cents per kilowatt-hour (C//kWh), which is what you’ll pay your utility for each kilowatt hour of electricity that your solar system produces. This figure is also a good indicator of your savings over the lifetime of your solar system, as it reflects the average cost of electricity from your local utility.
A solar system’s ROI is calculated by comparing its overall cost to the benefits it generates. This can be done by calculating your monthly electric bill savings and subtracting the cost of the solar panels, minus any incentives or rebates you receive from your state. Once you’ve figured out how much you saved, the next step is to calculate your solar payback period and determine how long it will take you to recoup your investment.