Cost Of Installing Solar Panels In Washington State

How long does it take to earn back your initial investment in solar panels.

Cost of installing solar panels in washington state.

Solar net energy metering nem net metering in washington state is how your utility compensates you for providing clean renewable solar energy to your neighbors and the local electric grid. For example when the final cost to install solar panels are 10 000 you will receive 2 600 back in federal tax credits. This is 2 73 per watt. However most installers estimate solar costs by the amount of energy needed at 2 53 to 3 15 per watt before any tax credits or incentives.

The average gross cost of installing a standard 5kw solar energy system in washington is just over 14 000 although with various incentives applied this cost can drop dramatically. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. As of sep 2020 the average cost of solar panels in washington is 2 73 per watt making a typical 6000 watt 6 kw solar system 12 117 after claiming the 26 federal solar tax credit now available. Energy efficiency and solar grant funds projects result in energy and operational cost savings at state public higher education institutions local government facilities state agencies and kindergarten through 12th grade k 12 public school districts.

Here s an example of how the numbers work for a purchase of a 5 kw rooftop solar system in washington. Solar panel cost in washington. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. The best way to get a fair price for solar is by comparing quotes on the energysage marketplace.

The cost of solar panels to power your house are 4 to 10 per square foot. On average the payback period for installing a solar energy system is about 9 4 years and the average 20 year savings are over 17 600. On a cost per watt w basis a solar panel installation in washington ranges in price from 2 34 to 3 16. The average cost for an installed residential solar system in washington is currently 12 117 after claiming the 26 federal solar tax credit.

From washington data it is shown that the average cost of a solar panel installation ranges from 11 688 to 15 812. Washington state department of commerce energy efficiency and solar grants. Given a solar panel system size of 5 kilowatts kw an average solar installation in washington ranges in cost from 11 688 to 15 812 with the average gross price for solar in washington coming in at 13 750. Below are cost estimates based on home size.

Installing a typical 5 kw solar system should start at about 18 750. Key takeaways about solar panel cost.