The cost of a solar inverter can vary significantly based on the type, capacity, and brand. On average, a residential solar inverter can range from $1,000 to $3,000. String inverters, which are common for residential systems, typically cost between $1,000 and $2,000. Microinverters, which are installed on each solar panel, can cost between $1,000 and $2,500 for a typical home setup, depending on the number of panels. Hybrid inverters, which can work with battery storage systems, might range from $1,500 to $3,000.
Installation expenses for a solar inverter are generally part of the overall solar panel system installation cost. However, if you are replacing an inverter or installing it separately, labor costs can range from $500 to $1,000, depending on the complexity of the installation and local labor rates. This includes the cost of electrical work, mounting, and any necessary permits.
Additional costs may include electrical upgrades, such as new wiring or circuit breakers, which can add a few hundred dollars to the total. If the installation requires significant modifications to your existing electrical system, costs could be higher.
Overall, the total cost for purchasing and installing a solar inverter can range from $1,500 to $4,000 or more, depending on the specific requirements and local market conditions. It's advisable to get multiple quotes from certified installers to ensure competitive pricing and quality service.