Commercial Solar Panel Upfront Cost

In texas the average cost of commercial solar panels is 7 6 lower than the national average.

Commercial solar panel upfront cost.

Businesses are increasingly realizing the monetary benefits of installing commercial solar panels. The 2018 average reported by the national renewable energy laboratory is 1 83 per watt. On average upfront costs are 11 000 with savings of 1 400 per year on foregone energy bills. Average commercial solar cost breakdown now that you know the parts of the solar system it s important to understand that the costs to get a new photovoltaic array don t stop with the equipment.

However through 12 31 2019 the itc is valued at 30 for commercial solar. We simply subtract the annual electricity savings from the upfront. As such the up front cost of 1 064 350 will be reduced by 30 319 305 so the new cost of commercial solar is 745 045. Solar is often thought about in terms of the price per watt of power capacity which equalizes system costs similar to the price per square foot metric the in real estate sector.

The average solar panel payback period is 7 to 12 years depending on where you live and the cost of electricity.