how much does a solar panel system cost?
At the time of this writing, the installed cost of solar panels was between $7-$9 per watt: A 5 kW system would cost around $25,000-$35,000. Many utility companies offer incentives, and some subsidize as much as 50% of system costs. Even at half the cost, though, a system that generates an average $75 of electricity per month could take a long time to pay for itself. For example: A system that costs $18,000 has a payback period of about 20 years. The cost of a solar panel today is around $3 per watt, and the extra cost of installation brings costs up to $5- $6 per watt. Note: Installation costs for PV systems include both labor and the electronics needed to tie the solar array into your existing electrical system.