In 2019, the average national solar panel cost is $2.98/watt. The average solar panel system size in the U.S is approximately 6 kilowatts (kW), therefore an average solar panel system would cost $12,516 after tax credits. That’s more than two percent lower than it was just a year ago, and solar panel system costs are continuing to fall.
How much does it cost to install solar panels in Florida?
The price of a solar panel system in Florida is dependent on a number of factors, including the equipment, installation company, the size of the system, and more. As of July 2019, the average cost of a solar panel system in Orlando is $2.63 per watt. For an average system size of 6 kilowatts (6,000 watts), the average price for a solar panel system in the state of Florida is approximately $15,780 before any federal or local incentives.
While the average-sized solar panel system in Florida is larger than the national average of approximately 9.5 kilowatts, pricing in the state is lower than the national average ($2.98 per watt.)
For a 6kW system the national average is $12,516, and for Florida the same size system averages $11,046 with the 30% federal income tax credit, which can be rolled over for up to 10 years if you don’t owe that much in taxes.
How does system size impact the cost of solar?
Knowing the average cost per watt is helpful, but what does $2.63 or $3/watt actually mean for you? The cost of installing solar for your home depends on how much electricity you want to generate – a bigger system will cost more because you’ll need to buy more equipment and more labor will be needed to install it.
A major financial reason for the popularity of home solar power in Florida is centered around the great solar incentives in the state. Net metering applies to homeowners connected to the grid who have solar panels installed and allows those homeowners to receive credits on their electric bills for surplus energy produced by their solar system. In a sense, net metering allows you to use the grid to store your energy for free. Without net metering, most homeowners have to opt for another storage option like batteries.
How much does a single solar panel cost?
The cost of a single solar panel can help to understand the overall breakdown of a solar power system, but the cost of each panel depends on the amount of leverage a buyer has, the type of panel, and the size of the system.
For example, as solar installers we have a direct relationships with distributors and can buy in bulk, so we can often purchase solar panels at a rate much lower than the average consumer. As a rule of thumb, we are able to save up to about 25% compared to what the general public pays for panels.
Average cost of solar panels by state
Prices can vary significantly depending on where you live. A number of factors impact this variation – one of the most influential is the cost of electricity. That’s one reason why Florida’s average solar cost is so much lower than the cost of solar in Massachusetts – electricity costs in the Northeast are high when compared to the rest of the U.S.
Did you know the biggest installers typically don’t offer the best price?
A recent report by the U.S. government found that large installers are $2,000 to $5,000 more expensive than small solar companies. Also, national-scale installers don’t just have higher prices – they also tend to have fewer solar equipment options, which can have a significant impact on your system’s efficiency. By opting for local installers you will save money and get a better system, custom built for your exact needs.