Budget table for photovoltaic panel support

How does a cost model estimate a photovoltaic system?

This report describes both mathematical derivation and the resulting software for a model to estimate operation and maintenance (O&M) costs related to photovoltaic (PV) systems. The cost model estimates annual cost by adding up many services assigned or calculated for each year.

What are soft costs for a solar and battery project?

Soft costs include administration costs for the company, customer acquisition and marketing, system design, permits and fees for connecting to the grid, and labor for installation. Here’s the NREL’s latest soft costs breakdown of a solar and battery project:

What is a PV O&M cost model?

The PV O&M cost model assumptions and modeled cost drivers represent dependencies on system size and type, site and environmental conditions, and age. Also, a detailed cost model allows investigation of how costs change over a very long performance period.

How much does a solar project cost?

For example, if you receive a solar quote for $25,000, you can expect labor to make up around $1,375 of the all-in cost. (Check out our solar calculator to estimate the cost of your project.)

How much does solar installation cost?

According to the NREL data above, installation typically accounts for 5.5% of the total cost of a residential solar project, so this equation will get you a ballpark figure for labor costs. For example, if you receive a solar quote for $25,000, you can expect labor to make up around $1,375 of the all-in cost.

How much does a 6-8kw Solar System cost?

The Solar Energy Industries Association (SEIA) reports that an average 6-8kW solar system costs around $25,000. Our 2023 poll of 2,000 homeowners with solar saw similar results, with respondents reporting paying an average of $15,000 to $20,000 for 6-8kW solar panel systems.