Since 2010, the commercial solar panel cost has dropped by around 90%
. Solar energy now is more accessible than ever. Here are some approximate numbers for solar panel installations: - 5 kWh: ~ $14,000
- 10 kWh: ~ $28,000
- 25 kWh: ~ $70,000
The price of you installation depends on a variety of factors, such as - type of panels
- system size
Commercial solar systems are more expensive than residential, but only because they are bigger. The cost of commercial solar panels is, however, lower per watt because of the larger size of these panels. What's more, you can save money by increasing the scale of your installation with the Federal Solar Tax Credit (ITC) program
In short, to encourage people to switch to renewable energy, the state refunds some of the solar installation cost in taxes. The state proposes a tax credit worth of 30% cost of a commercial system. It drops down to 26% in 2033 and in 2034 it is going to be only 22%. The program ends in 2035.
By using the ITC program, you can save up more than a quarter of solar installation cost. Here is how much solar panels for business cost after deducting 30%: - 5 kWh: ~ $10,400
- 10 kWh: ~ $20,800
- 25 kWh: ~ $52,000
To apply for this program, a solar installation should be located in the U.S. and used by a business subject, which pays taxes to the U.S. government. Thus, charity funds, for example, can't benefit from this program. Here is a full guide on claiming solar tax credit
in the United States.