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Solar Panel Prices in 2022: What you need to know
Even though solar industry analysts project that the cost of solar will continue to rise in 2022, solar remains an
affordable option for homeowners. Over the last decade the cost of solar has dropped by more than 70 percent with
advances in solar technologies and manufacturing.
The best way to understand the cost of a residential solar project is price per watt. Price per watt is the total cost of the
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solar panels. So, if you have ten 200-watt solar panels, your system size is 2000 watts. If your total installation cost is
$2000.00 then your price per watt is $1.00.
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The graph below shows the average price per watt of a residential solar project in the US in 2020-2021. The rise in prices
you see in the graph below is caused by increases in raw materials, freight and labor. Even with these increases the solar
power system remain an affordable option for homeowners.
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Table courtesy of energysage
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Polycrystalline: These panels are blue in color and use multiple silicon crystals melted together. They are a bit less
efficient than monocrystalline but are a more affordable option.
Monocrystalline: Monocrystalline are made from a single silicon crystal and typically have better efficiency and are
smaller in size than polycrystalline. They also tend to be the higher cost option.
Amorphous solar panels: They are lightweight and flexible but much lower efficiency than Polycrystalline or
Monocrystalline. They are also larger and require more space for installation.
Note: Pricing shown in this table is for the price of the panel only. Installation costs are not included.
Solar Inverters
Inverters are solar components that convert the DC power your panels produce to the AC power your home uses. There
are a few types of inverters and a number of manufacturers, with varying equipment and installation costs. A high-
quality power inverter is sure to cost higher.
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Installation
Installation represents a sizable portion of the cost of a solar project. It includes the cost of labor and additional
equipment like mounting brackets and cabling. The material your roof is made of will also impact installation costs.
Materials such as asphalt shingles tend to have lower installation costs, while materials like clay tile have higher
installation costs.
At Renogy we believe in a sustainable future where renewables are the core of our energy supply.Our mission is to make
50 million people energy independent by 2030 with easy-to-use, DIY renewable energy products.We offer a wide range of
solar energy products. Besides solar panels, we also offer the solar battery, solar generator, power inverter, portable
power station, charge controller and every accessory to power your RV, van, cabin, yacht, and more. Explore it all at
Renogy.
Related articles:
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