Solar Panel Costs in 2026 : It''s Usually Worth It
Solar panels cost about $21,816 on average when purchased with cash or $26,004 when purchased with a loan for a 7.2 kW system. While that price tag seems steep, the electricity bill
Ultimately, many factors figure into the price per watt of a solar system, but the average cost is typically as low as $2.75 per watt. This price will vary if a project requires special adders like ground mounting, a main panel upgrade, an EV charger, etc.
Solar panels themselves represent only 12-18% of total system cost, typically $0.30-$0.50 per watt. Premium monocrystalline panels offer 20-22% efficiency but cost more than standard panels with 18-20% efficiency. Panel type significantly impacts both cost and performance:
Commercial solar installations are a great way for companies to lower energy 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.
Solar systems are sized in kilowatts (kW) and are typically designed to offset 100% of your average annual electricity usage. For reference, the average U.S. household consumes 10,000 kWh of electricity per year and, with average sunshine, would need a 7.5 kW solar system to offset their electricity charges. Is the price of solar panels falling?
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