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Solar panel installation costs continue to drop

By John Kirchner October 3, 2011

A couple of weeks ago, we wrote about residential solar panel installation and whether the upfront costs were worth the investment. To refresh your memory, we wrote:

…for an “average-sized home,” a typical solar panel system could cost anywhere from $15,000 to $30,000, which could take anywhere from three to 10 years (or more) to recoup.

Soon thereafter, Jetson Green wrote about the cost of solar panel installation continuing to drop. According to the article:

In fact, the average installed cost of a solar PV system completed in 2010 fell by 17% from the prior year, and the cost has also dropped an additional 11% so far in 2011, according to the Lawrence Berkeley National Laboratory.

Jetson Green’s article also points out the solar panel installation costs less on new construction than when being added to a home during a remodel or retrofit. Additionally, government and utility-company subsidies or incentives are notably lower than in recent years, perhaps a sign of the technology starting to mature a bit.

All important factors to consider when determining whether solar panel installation is worth the cost.

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