The cost of solar panels for a home varies depending on several factors, including the size of the system, location, and type of panels. According to recent data, the average cost of solar panel installation and the system together can run from $15,000 to $25,000. However, the cost can range from $4,500 to $36,000 depending on the type and model of the panels, as well as any inverters and the region. The average 8-kilowatt residential solar panel system costs about $24,000 before tax credits and other incentives. The cost of solar panels is typically priced based on a price per watt, which is around $3 per watt on average for a residential 5-kW system. The cost of solar panels alone can range from 80 cents to $1.80 per watt, depending on the type, size, and application. Its worth noting that changes in government trade policy can also impact prices. Despite the initial investment, installing solar panels can save homeowners money in the long run and increase the value of their home.