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Solar Panel Economics in 2026
The average residential solar installation costs $2.50-3.50 per watt before incentives. The 30% federal Investment Tax Credit (ITC) reduces cost by nearly a third. An 8kW system at $3/watt costs $24,000 before the credit and $16,800 after. Many states offer additional rebates of $1,000-5,000.
Average payback period: 7-12 years. System lifespan: 25-30 years. That means 15-20 years of essentially free electricity after payback. Solar panels also increase home value by approximately $15,000-25,000 according to Zillow research — often more than the net cost of the system.