Solar Panel Cost Breakdown
How much does it cost to install and manage solar panels? 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
The average cost per watt for solar panels in the U.S. is $2.84 for residential systems. High-efficiency monocrystalline panels tend to be at the higher end of the price range, but they generate more power with fewer panels—ideal if you have limited roof space.
Multiple pieces of equipment, such as racking, wiring, and inverters, must be installed so the solar panels can power your home. Solar panels and other equipment: Believe it or not, solar panels make up just 12% of total installation costs on average, with one solar panel costing about $200 before installation costs are considered.
If you just need a few panels for a small do-it-yourself solar project, expect to pay around $200 to $350 per panel (between $0.80 and $1.40 per watt). Note: The table below doesn'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.
Generally, installing solar panels on businesses costs a bit less per watt because the systems are larger, but the total costs will be higher. In 2025, the average cost for commercial solar panels is just about $2.00 per watt. There is a lot to consider when figuring out how much you'll spend on a solar installation.
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