Since 2010 the commercial solar panel cost 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 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. For commercial solar systems, whose construction started in 2020-2022, the state proposes a tax credit worth of 26% cost of a solar installation. It drops down to 22% in 2023 and after 2024 it is going to be only10%. Still better than nothing: for residential solar systems this program ends in 2024.
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 26%: - 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 for 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.