Solar inverters are essential for converting solar panel energy into usable home power. Costs range from $1,000–$4,000 depending on type, size, and features. 24 per watt on a solar inverter, not. . Today, most new photovoltaic (PV) installations utilize a string inverter or a microinverter. Small Residential Systems (3-5 kW): These systems typically use inverters ranging from 3 to 5 kW, with prices ranging from $1,000 to $2,000. Factors like silicon shortages, shipping delays, and tariffs on electronic components could lead to fluctuating prices. .