Commercial Solar Panel Upfront Cost

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

Commercial solar panel upfront cost.

You ll break even after 8 years and start generating a return on your investment. Businesses are increasingly realizing the monetary benefits of installing commercial solar panels. However through 12 31 2019 the itc is valued at 30 for commercial solar. 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. 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. 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 installed cost of solar for commercial purposes is 2 00 per watt.