Cost Of Installing Solar Panels Yourself

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Cost of installing solar panels yourself.

Not a bad investment. For a typical 5 kw 5 000 watt solar panel system that works out to 15 000. Installation for the average 5kw system ranges from 11 100 22 400. They are custom based on the home roof type shading and utility.

Installing a solar panel system costs an average of 23 597 and dropping. Solar panelinstallation cost guide. No two solar power systems are the same. That cost is before any tax credits.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. On the other hand you should be able to buy a 5 kw diy solar panel kit for under 2 00 per watt. Expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range. Without further ado here is how you can install solar panels by yourself along with important aspects of the installation.

Break even point formula break even point in years net solar power system cost yearly electric bill from before your system was installed above we calculated the cost of the system would be between 5000 and 7200 so let s use 6000 as our system cost before any incentives kick in. Most homeowners pay between 16 532 and 30 820. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt. With installation an average residential 5kw size system costs between 3 and 5 per watt according to the cse which results in the 15 000 to 25 000 range.

Right now the average cost of solar panel installation by a professional solar company is around 3 00 per watt. Assuming you perform all of the work by yourself i e. Until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. By opting to go diy solar you can actually cut your costs by more than 12 000 for the average home solar system.

No contractors for any of the tasks the total cost of the 5 kw diy solar project would cost no more than 10 000. First you will need to pick a suitable platform for your solar panels these can be anything flat or tilted towards the sun. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt.

You can go solar today for about one third of what it would have cost ten years ago.