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Cost of Solar Panels Over Time

Written by Dominique Sabins /

Edited by Jamie Cesanek

Last updated 11/06/2024

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Side view of a female employee inspecting newly manufactured solar panels in company. Woman quality engineer examining solar panels in factory.
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Key Points

  • The average cost of residential solar has decreased by about 69% since 2003.
  • The Residential Clean Energy Credit is a 30% tax credit off the cost of a solar system through 2034.
  • In 2004, solar panels cost $10.28 per watt, compared to $3.25 per watt in 2024.

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