Cost of Solar Power
Depending on the location and design of your system, the typical home installation ranges from 3 to 7 kilowatts and costs between $18,000 to $40,000 to purchase.
Equipment Costs ~ 45%
- Solar panels: About a third of the cost of a residential photovoltaic system comes from the cost of solar panels, which can cost around $4,500-$12,000.
- Power inverter: The inverter, which converts DC to AC so you can connect to the grid, will cost $1,000-$3,000.
- Mounting hardware: Depending on your home, you may need standoffs, rails, clips, etc., which cost around $800-$2,000.
- Wiring: Wires and wiring boxes, disconnects, conduit, and other electrical components can total to around $1,000-$2,000.