How much do solar panels cost?

Solar panel systems cost $15,000 to $30,000 before incentives for an average 6-8 kW residential system, or about $2.50 to $3.50 per watt installed. The federal solar tax credit reduces costs by 30%. State and local incentives can further reduce the price. After incentives, net costs typically run $10,000 to $20,000.

How long do solar panels take to pay for themselves?

The average solar payback period is 7-10 years depending on system cost, electricity rates, and incentives. High electricity rates (over $0.15/kWh) create faster payback. Solar panels typically last 25-30 years, providing 15-20 years of free electricity after payback.

How much electricity do solar panels produce?

A 1 kW solar system produces about 1,200-1,500 kWh per year depending on location. A typical 6 kW system generates 7,200-9,000 kWh annually. Average US homes use 10,500 kWh per year. Peak sun hours vary from 3-7 hours daily depending on geographic location, with southwestern states receiving the most sun.

Solar Panel Savings Calculator - Free Calculator

How to Use the Solar Panel Savings Calculator

This free solar panel savings calculator helps you quickly calculate annual savings. Simply enter your values in the fields above and click "Calculate" to see your results instantly.

Understanding Your Results

After entering your information, the calculator will display your results including annual savings, monthly production, payback period, 20-year savings. Each result is calculated using standard formulas used by financial professionals and experts in the field.

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