Enter the total cost of the system, the number of solar panels, and the expected value of the electricity the panels will produce into the calculator to determine the cost per solar panel.

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## Cost Per Solar Panel Formula

The following equation is used to calculate the Cost Per Solar Panel.

CPS = (CS – VE) / #SP

- Where CPS is the cost per solar panel ($/panel)
- CS is the cost of the entire system ($)
- VE is the expected value of the electricity generated by the solar panels ($)\
- #SP is the number of solar panels

To calculate the cost per solar panel, subtract the value of the energy generated from the total cost of the system, then divide by the number of panels.

## What is the Cost Per Solar Panel?

Definition:

The average cost of one solar panel is between $100.00 and $500.00 dollars. However, the true cost of a solar panel must take into account the value of the electricity that it will produce.

For example, if the panels produce enough electricity to power your home year-round, you will no longer have an electricity bill, which must be subtracted from the system cost.

## How to Calculate Cost Per Solar Panel?

Example Problem:

The following example outlines the steps and information needed to calculate the cost per solar panel.

First, determine the cost of the entire system. In this example, the entire system costs $15,000.00.

Next, determine the expected energy savings from the solar panels. Over the lifetime this is expected to be $10,000.00.

Next, determine the number of solar panels in the system. In this case, the system has 100 panels.

Finally, calculate the cost per panel using the formula above:

CPS = (CS – VE) / #SP

CPS = (15,000- 10,000) / 100

CPS = $50/panel