Solar power has become popular in the United States, as it provides a reliable, environmentally friendly, cost-efficient source of electricity to any home. But despite all the benefits of solar power, the cost of installing solar panels is often the reason why people hesitate to switch.
So how much does it cost to install solar panels? The cost to install solar panels is computed per watt, and according to the National Renewable Energy Laboratory (NREL), the average cost to install solar panels for residential properties was $2.81 per watt as of 2020. The NREL also shows a decline in the cost to install solar panels in the last decade.
Let’s dive into factors that can impact solar installation costs and how those costs can be reduced.