How much does a photovoltaic system cost?

The price of a photovoltaic system is based on numerous factors, including system components and configuration, difficulty of installation and available incentives. The average installed cost ($/watt) for a residential solar electric system has dropped significantly over the years and is between $2-$3/watt.

Why should you install a solar photovoltaic (PV) system?

Sunlight can power everything in your home or business from lights and appliances to heavy equipment and electric vehicles. When you install a solar photovoltaic (PV) system, you reduce the use of fossil fuels, curb greenhouse gas emissions and promote energy independence while saving money on your energy bills.

What is a solar project?

Solar projects can generally be placed in two buckets: they are either large utility-scale ground mounted projects connected to the grid, or they are smaller, distributed projects, typically 20 MW in capacity or less.

How much does solar power cost?

Investing in solar power technology can be an intimidating endeavor due to the substantial upfront costs. For instance, a small-scale commercial solar panel system costs approximately $2 per watt on average, translating into an estimated total cost of around $200,000 for a full installation across an average sized organization.

Are solar panels a viable energy solution?

As more people see solar panels in everyday places—offices, restaurants, retail stores—they become more familiar and comfortable with the technology. This normalization encourages both individuals and organizations to consider solar as a viable energy solution, contributing to larger sustainability efforts.

How much does a residential solar system cost?

The average installed cost ($/watt) for a residential solar electric system has dropped significantly over the years and is between $2-$3/watt. That means the average 5-kilowatt (kW) residential system will cost $10,000-$15,000, prior to tax credits or incentives.