How Much Are Solar Panel Prices?
Price of Solar Panels
Solar panels cost $0.70 to $1.50 per watt on average but can run from $0.30 to $2.20 per watt. A typical 250 watt panel costs $175 to $375 on average. For an entire solar system, the average homeowner pays $3,910 to $6,490. Panels can cost as low as $1,890 and as high as $13,600.
This price depends on several factors:
Solar system size (the average is 6 kilowatts)
Type of solar panel
Whether you’re on or off the utility grid
Average Solar Panel Costs
| Average Cost | $7,745 |
| High Cost | $13,600 |
| Low Cost | $1,890 |
Solar Panel Pricing Per Watt
The amount of electricity a solar panel produces is measured in watts and kilowatts (1,000 W = kW). A kilowatt-hour (kWh) measures the amount of energy that a solar panel produces.
| Measurement | Average Price Range per Panel |
|---|---|
| 150 watts | $105 - $225 |
| 200 watts | $140 - $300 |
| 250 watts | $175 - $375 |
| 300 watts | $210 - $450 |
| 350 watts | $245 - $525 |
| 500 watts | $350 - $750 |
| 1 kW | $700 - $1,500 |
Keep in mind, most homes need at least 10 to 20 panels to cover their electricity.
Solar Module Prices by Type
There are four main types of solar panels:
Monocrystalline: Last the longest, high energy efficiency
Polycrystalline: Lower efficiency than monocrystalline but are still space efficient
Thin-film: Least expensive, shortest lifespan, need the most space, most flexible
Concentrated Photovoltaic (CPV): High efficiency rates but uses direct light only
Monocrystalline Solar Panel Prices
Monocrystalline panels are highly energy efficient and, as such, cost the most at $1 to $1.50 per watt. Outfitting a 6 kW solar system costs $6,000 to $9,000.
Polycrystalline Photovoltaic Panel Prices
Polycrystalline panels cost $0.90 to $1 per watt. You can tell them apart from other panels because they’re blue. Expect to pay between $5,400 and $6,000 for a 6 kW system.
Other PV Panel Prices
Photovoltaic or thin-film panels cost $0.70 To $1 per watt. While only lasting 14 to 17 years, they have a much higher heat tolerance than the other panels. You’ll pay $4,200 to $6,000 to set up a 6 kW system.
Concentrated photovoltaic (CPV) panels are $0.80 to $1.10 per watt. While not as well-known as other types of panels, CPV panels are highly efficient and may grow in popularity. A 6 kW solar system would cost $4,800 to $6,600.
Solar Cell Price
A single solar cell costs about $0.30 and most panels use 60 or 72 cells. The more cells in a panel, the higher the cost.
Residential Solar Panels vs. Commercial
| Size | 60 cell panels | 7 cell panels |
| Cost | $0.70 - $1.50 per watt | $0.80 - $1 per watt |
| Average Efficiency | 15% - 20% | 17% - 22% |
| Solar System Size | 4 - 20 kW | 25 - 250 kW |
Based on the table, you can see that commercial panels by themselves are bigger, more efficient and cost less than residential panels. However, it still costs more to set up a business with commercial panels than to set up a home. This is due to size — businesses require more energy (and use more energy) than houses.
Solar Panel Price Per Region
| Region | Panel Cost per Watt |
|---|---|
| Northeast (ME, NH, VT, MA, NY, PA, CT, RI, DE, NJ, MD) | $0.75 - $1.20 |
| South (VA, WV, KY, TN, NC, SC, GA, FL, AL, MS, LA) | $0.55 - $1.30 |
| Midwest (OH, IN, MI, IL, MO, AK, KS, NE, SD, ND, MN, WI) | $0.60 - $1.20 |
| Southwest (OK, TX, NM, AZ) | $0.85 - $1.20 |
| West (CO, UT, WY, MT, ID, NV, WA, OR, CA) | $0.80 - $1.20 |
| Alaska | $0.95 - $1.10 |
| Hawaii | $1.20 - $1.40 |
Find a solar panel installer near you to get an estimate for your home.
Solar System for Home Price
An average 1,500 square foot home will likely need 16 panels to cover its electric usage. If your home is shaded or faces east/west, you might need more than 16 panels.
While panels themselves cost $0.70 to $1.50 per watt, the price to install solar panels costs $3.20 per watt. This includes operational costs and permits in addition to parts and labor. Homeowners might pay anywhere from $14,870 to $55,540 (before the federal tax credit) for total installation.
You can also lease a solar energy system. The benefit of leasing is that you’ll often pay nothing upfront and still save on electricity. The drawback is that you won’t qualify for tax credits or rebates. Those who own solar panels break even about 15 to 25 years after installation.
Small Solar Panels Price
Small panels (under 100 watts) cost $30 to $300. A $30 panel with 100 milliamps and four volts is one of the smallest solar panels available. It can charge a lead acid battery, older versions of MP3 players and small toys.
A 12 volt panel with 50 to 80 watts can charge smartphones, iPads and other medium sized electronics. These solar panels range from $200 to $290.
FAQs
How much does one solar panel cost?
One solar panel costs anywhere from $105 to $1,500. The price depends on the number of watts — an average 250 watt panel costs $175 to $375.
Do you really save money with solar panels?
Solar panels save a lot of money over time. Across the country, the average lifetime savings range from $20,000 to $134,000. You’ll break even after 15 to 25 years of owning solar panels — everything after that breakeven point is additional savings.
Solar systems are highly durable. Even though the average solar panel repair costs $640, most panels come with a 15 to 25 year warranty so you won’t have to budget too much in for repairs.
What are the most cost effective solar panels?
Currently, monocrystalline panels are the most cost effective. While they are the most expensive, they are also the most efficient (which helps you save the most money).
What are the three types of solar panels?
The three main types of solar panels are monocrystalline, polycrystalline and thin-film.
How many solar cells are in a solar panel?
There are 60 or 72 cells in a solar panel. Most homes use 60-cell panels.
