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These costs are for a typical 7 kW residential system ($19,873 average). Monocrystalline or polycrystalline panels are the most common types of solar panels. Most residential installations use monocrystalline photovoltaics (PV) panels, which offer up to 24% efficiency and perform better in limited space and extreme temperatures.
If you just need a few panels for a small do-it-yourself project, expect to pay around $200 to $350 per panel (between $0.80 and $1.40 per watt). These prices don't include the cost of a solar storage battery, which can add anywhere from $7,000 to $18,000 to your total solar system costs.
The average national cost for a 5-kilowatt system ranges from $14,000 to $20,900, depending on the source and period of data. EnergySage reports that the average cost of a 10.8 kW solar panel installation is around $29,926 before federal tax credits, which reduces to $20,948 after the credits are applied.
According to studies by the U.S. Department of Energy, the all-in cost of a home solar panel system is between $2.74 to $3.30 per watt. 1,2,12 This figure includes the solar panels, the installation, and other expenses. Using these numbers, an average-sized 8-kilowatt residential solar system would cost between $21,900 – $26,400.
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