What is cost of 60kwatt solar power project?
The cost of a 60 kW solar power project can be estimated based on several factors, including the cost per watt of the solar panels, the overall system components, and any applicable incentives.
Cost Per Watt
As of 2024, the average cost per watt for solar panels in the U.S. is around $2.56 before federal tax credits3.
Total System Cost
For a 60 kW system, the total cost can be calculated as follows:
- 60 kW * $2.56 per watt = $153,600 before federal tax credits.
Incentives and Final Cost
After applying the 30% federal tax credit, the cost would be:
Additional Costs
In addition to the cost of the solar panels, other components such as inverters, mounting systems, electrical wiring, labor, and other installation costs need to be considered. Here is a rough breakdown of these costs:
- Solar panels: 12% of the total cost
- Solar inverter(s): 10%
- Racking equipment: 3%
- Electrical wiring: 9%
- Supply chain costs: 9%
- Sales tax: 2%
- Installation labor: 7%
- Sales & marketing: 18%
- Overhead costs: 11%
- Solar installer profit: 11%
- Permitting & interconnection: 8%3.
However, for a larger system like a 60 kW setup, these percentages might vary slightly, but they give a general idea of the additional costs involved.
Estimated Total Cost
Considering all these factors, the total cost for a 60 kW solar power project after federal tax credits would likely fall in the range of:
- $107,520 (panels and tax credit) to around $150,000 to $180,000, depending on the specific components and installation costs.
Specific Kits
For example, a 60 kW solar kit from SunWatts is priced from $1.07 to $1.80 per watt, which translates to:
- $64,200 to $108,000 for the hardware components alone. This does not include installation costs1.