Normal residential solar systems are typically sized from 3 to 8kW and may end up costing a homeowner between $1,434 and $45,620. A breakdown of the total cost of installing a solar panel will include a system the normally amounts to $9000, solar panels that cost around $4500 to $6500, balance of system amounting to $2500, installation cost that typically amounts to $7500, the labor cost that is roughly $3000, permits to be secured and inspections fees that may cost $4500 and an operational cost of $3000. Overall, the total cost of a 3 kW solar system can reach $19500. These solar panels can supply 70% of the household’s electricity consumption.