Commercial Solar Panels Cost 2022
Commercial solar panels typically cost an average of $251,162, with a range of prices from $50,211-$502,113 in 2022. The total cost of these panels will depend on the number of kilowatts needed to cover your energy consumption, according to EnergySage.
The typical cost for a commercial solar panel 100kW system is $251,162, based on an average price of $3 per watt. Here are average costs for commercial panels varying in size:
- Small commercial panel (25 kW): $50,211 on average
- Small to medium commercial panel (50kW): $100,423
- Medium commercial panel (100kW): $200,846
- Large commercial panel (250kW): $502,113
*Pricing includes a federal tax credit of 30%
Are Solar Panels Worth It?
If you are wondering whether solar panels are worth the investment for your commercial property, the answer is a resounding yes! Solar panels can offset electricity costs by upwards of 75% per month. Additionally, business owners can deduct up to 85% of the system cost from their taxes.
Here is a look at a few of the benefits of solar panels:
- Reduces electricity costs
- Quick return on investment
- Maintenance free
- Power costs will be locked in for years to come
- Huge tax rebates for businesses
- Can be financed with no money down and/or low monthly payments
Do Commercial Solar Panels Save Money?
Commercial facilities that installed these solar panels tend to save up to 75% on monthly utility bills. It only takes an average of 5 years to pay off your commercial solar system, which leads to 25-35 years of free electricity. Here are a few ways your business could save even more money after installing solar panels:
Federal Tax Credit
A federal tax credit can save new solar installers upwards of 30% of the cost of the total panel installation.
State Tax Credit
States like Arizona offer a 10% credit, which helps offset the cost of the panels.
Commercial property owners are able to deduct up to 85% of the system’s total value from their business taxes.
Any business that opts for solar panel installation can enjoy these benefits:
- Offset electricity usage by 75%
- Save nearly $1,500 per month
- Pay off system cost in 5 years, on average
- Enjoy free electricity for the next 25-35 years.
Commercial Solar Panels Cost In Arizona
Typically, commercial solar panels in Arizona will cost between $2.50-$3.50 per watt, meaning business owners can expect to pay $3.00 per watt, on average.
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