Cost Domestic Versus Chinese Solar Panels

As recently as five years ago china was a bit player in solar far behind in both quality and cost.

Cost domestic versus chinese solar panels.

However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. According to data from the energysage solar marketplace the average gross cost of going solar for homeowners meaning your costs before incentives and rebates are applied is 17 460. Third chinese solar panel manufacturers leveraged their domestic solar energy boom and massive government support to dramatically increase their scale.

While most solar panel manufacturers offer a ten year materials warranty rec provides a maximum of 20 year warranty against any defects in their solar panels. Consequently cost reductions of solar panels brought in by chinese imports in the us energy market undoubtedly has different effects amongst the solar energy stakeholders. As illustrated above benefits from solar panel cost reductions may not be equally allocated. National data september 2020.

The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. This growth partially coincided with the 2007 8 financial crisis which left american companies in poor state to compete. As of september 2020 the average solar panel cost in china me is 2 92 w. Before explaining how chinese solar panels compare to those made in other nations it s important to clarify what chinese solar panels refers to.

Manufacturers distributors employees and consumers. Given a solar panel system size of 5 kilowatts kw an average solar installation in china me ranges in cost from 12 410 to 16 790 with the average gross price for solar in china me coming in at 14 600. Average solar panel cost. Most of rec s solar pv systems are typically priced between 2 44 and 3 06 per watt which makes them a strong value in the market for home solar panels.

Then the chinese government threw its weight behind its solar manufacturers offering low cost. Chinese solar companies vs. As solar power becomes more common individuals are finding more ways to take advantage of this renewable source of energy two of the most common ways to utilize solar power are through rooftop solar panels arrays installed on the roofs of individual homes or solar panels installed on towers at large solar farms each method has its own distinct set of benefits and a clear.