Solar Cost Formula:
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Definition: This calculator estimates the total cost of a solar power system based on the system's power capacity and the price per watt of solar panels.
Purpose: It helps homeowners, businesses, and solar installers quickly estimate solar system costs for budgeting and planning purposes.
The calculator uses the formula:
Where:
Explanation: The system's power capacity is multiplied by the cost per watt to determine the total system price before incentives.
Details: Accurate cost estimation helps in financial planning, comparing quotes, and determining return on investment for solar installations.
Tips: Enter the system power in watts and price per watt (default $2.75/watt). All values must be > 0.
Q1: What's included in the price per watt?
A: This typically includes panels, inverters, mounting hardware, and installation labor, but may vary by provider.
Q2: What's a typical price per watt?
A: As of 2023-2024, residential systems average $2.50-$3.50/watt before incentives, but prices vary by location and system size.
Q3: How do I determine my needed system power?
A: Review your annual kWh usage and divide by your area's production ratio (typically 1.2-1.6) to estimate required watts.
Q4: Does this include tax credits or incentives?
A: No, this shows pre-incentive pricing. Apply applicable credits (like the 30% federal tax credit) separately.
Q5: What affects price per watt?
A: Factors include panel efficiency, system size, roof complexity, local labor costs, and equipment quality.