Graph Of Solar Panel Price

The cost for residential solar panel systems has dropped a remarkable 61 percent since 2010.

Graph of solar panel price.

Average solar panel cost. Here s an exciting number. In the chart above you can see why solar has grown so quickly in the us since 2010. People get very excited by the beautiful crash in solar module prices but the market place lives and dies by the install price.

10 cost of solar panels cost of solar power charts 1. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. These days you d be hoping to get near 4 w installed. That s according to the national renewable energy laboratory s nrel 2017 solar cost benchmark report.

The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. Therefore if the solar panel output is 250 watts that single panel might cost you 187 50. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Decline in price of residential solar since 2000.

Today it s around 0 13 per watt or about 600 times less. However if a homeowner is trying to buy one or two panels on their own for a small diy project they will likely pay closer to 1 per watt. The average cost of solar panels has gone from 76 67 watt in 1977 to just 0 698 watt today the second figure is according to pvinsights and is even lower than the 2013 projected price in the chart below. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power.

National data september 2020. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. 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.