![]() In fact, it is most helpful to think about solar panels as an investment instead of a single product that you simply buy. On average, it takes 8.7 years to earn back the money you spend upfront on installing solar panels. How long does it take to break even on solar panels? Even federal incentives like 30 percent solar tax credit aren't always available for everyone to take full advantage of – you need to have enough tax liability to claim the credit and reduce your overall cost of solar. This is because solar rebates and incentives aren’t always available to everyone. For example, our cost per Watt ($/W) figures throughout the rest of this article are always the gross cost. Throughout this article (and all around our website), we usually talk about solar panel pricing in terms of gross cost, aka the cost before any solar rebates and incentives that can reduce the upfront cost of solar, or even get you some money back over time. You can calculate your own cost and potential solar savings using the EnergySage Solar Calculator. Solar installations are a unique product – just based on your state and the manufacturer of your chosen solar panels, average solar panel costs can vary widely. This data comes from our own marketplace data from thousands of users across 37 states and Washington D.C. ![]() The average cost of a solar panel installation in 2023 ranges from $16,870 to $23,170 after taking into account the federal solar tax credit, with an average solar installation costing about $20,020. On a cost per watt ($/W) basis, solar panel prices in 2023 average $2.86/W (before incentives). ![]() In this article, we’ll break down the cost of solar by system size, state, and panel brand, all of which can significantly impact the final number you pay. cost about $20,020 on average down from more than $50,000 10 years ago.
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