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Written by Saltanat Berdikeeva /
Edited by Hannah Hillson /
Last updated 10/25/2022
Get an estimate of solar cost and savings at your home.
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Solar panels can reduce your electric bills, boost your home value, and provide clean and renewable energy. But are they worth the investment? Understand the payback period for solar panels and maximize the return on investment.
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| Solar System Cost | 5-kW (5,000 watts) x $4.00/watt | $20,000 |
| Federal Tax Credit | 30% x $20,000 | $6,000 |
| Total Cost after Tax Credit | $20,000 - $6,000 | $14,000 |
