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.

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. The average solar panel payback period is 7 to 12 years depending on where you live and the cost of electricity. The 2018 average reported by the national renewable energy laboratory is 1 83 per watt. We simply subtract the annual electricity savings from the upfront.

However through 12 31 2019 the itc is valued at 30 for commercial solar. You ll break even after 8 years and start generating a return on your investment. On average upfront costs are 11 000 with savings of 1 400 per year on foregone energy bills. With a payback in the mid single digits and a typical internal rate of return irr exceeding 10 most companies find that solar makes sense purely as a financial investment.

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.