Graph Of Solar Panel Price

Decline in price of residential solar since 2000.

Graph of solar panel price.

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. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. 10 cost of solar panels cost of solar power charts 1.

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. Today it s around 0 13 per watt or about 600 times less. A solar panel system is comprised of many pieces. Solar companies can typically get a single solar panel at a price of 0 75 per watt.

The cost for residential solar panel systems has dropped a remarkable 61 percent since 2010. National data september 2020. Here s an exciting number. 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.

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. 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. Average solar panel cost. 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 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. 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.