A single solar panel costs between $120-$315 for the equipment only, or $1,000-$1,200 when professionally installed. Historic Low Pricing: Solar costs have reached all-time lows at $2. 56 per watt on average, with systems ranging from $20,000-$30,000 before incentives. Combined with the tax credit, homeowners can achieve payback periods of just 6-10 years. Data source: IRENA (2025); Nemet (2009); Farmer and Lafond (2016) – Learn more about this data Note: Costs are expressed in constant 2024 US$ per watt. Panels can cost as low as $1,890 and as high as $13,600. 50/watt) compared to individual retail purchases ($0. Hidden costs significantly impact. Hard costs involve the cost of the solar panels, solar inverters, solar batteries, racking systems, and electrical components.