![]() Solar Panel Installation Cost National Average Cost Over 20 years, solar panel savings range from a low of $10,000 to over $30,000, depending on your location and the cost of electricity. ![]() Solar panels generate electricity approximately 30% cheaper than utility electricity over their lifetime. Most solar panels last for 50 years, have a 25-year warranty, and start generating a return on investment after 8-years. The average solar panel payback period is 7 to 12 years, and solar energy saves $600 to $2,000 per year on electricity costs. The average cost to install solar panels is from $10,626 to $26,460 (after tax credit) for a 6kW to 12kW system to power an entire house.
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