Solar Panel Cost Per Watt in 2023
The cost of solar per watt has been coming down over the last two decades as panels’ efficiency has increased, and the manufacturing of panels has ramped up.
Solar panels cost about $1.16 per watt. The cost per watt decreases the larger the system you buy. For a regular residential system (6.6kW) you can expect to pay $0.98 per watt. For a large 50kW commercial system, the price per watt comes down to $0.79.
There are a few factors to consider when pricing the cost of solar panels per watt, the biggest ones being, the solar rebate you receive, the size of the system, and the installer you use.
The cost of solar per watt and per kilowatt are closely tied. In fact, to arrive at the price per watt, we take the cost per kilowatt and divide it by 1,000 to get the cost per watt.
Below is a table showing the cost per kilowatt, depending on the size of the system.
|System size||Government rebate||Cost per Kilowatt
(after zone 3 rebate)
How many solar panels needed for 1kW
Single solar panels come in different Watt outputs, so the number of panels you will need depends on the panels you buy. The output ranges from 330 – 500W.
330 Watt panel x 3 = 1 kW
500 Watt panel x 2 = 1 kW
The short answer is you will need 2 or 3 solar panels to make up 1 watt. The question is about roof space and cost. 500W panels are more expensive than 330W panels. If you have the space get 300W panels as they are cheaper. If space is a concern, get 500W panels.
Historical Chart of Solar Cost Per Watt in Australia 2010 - 2020
How much does one solar panel cost?
A single 330W solar panel will cost $230 – $395 per panel depending on the brand. If you buy panels as part of a system, the price decreases. Like anything, buying in bulk or as a package tends to be much cheaper.
If you were to buy a 6.6kW system which is typical for a 3-bedroom house, you would be paying $309 per panel including roof mount installation, grid connection, and an inverter.
Author: Ben McInerney is a renewable energy enthusiast with the goal of helping more Australians understand solar systems to make the best choice before they purchase. Having an accredited solar installer in the family helps give Ben access to the correct information, which allows him to break it down and make it easily understandable to the average homeowner.