Solar Energy Panel Price

Solar Energy Panel Price: solar panel price comparison

Solar panel cost very much depends on the quality, size and type of solar system you buy . As well as considering the upfront of cost of solar for home and businesses, it also important that you ask how much power will my solar panel system produce over its lifetime ? Solar energy is a long term investment, so while the upfront cost is obviously important, it is certainly not the only consideration.

Understanding Solar Energy Panel: solar panel price comparison

Before we go deeper into the pricing intricacies, let’s grasp the basics. Solar panels, also known as photovoltaic (PV) panels, are devices that convert sunlight into electricity. These panels consist of solar cells that capture sunlight and convert it into direct current (DC) electricity, which is then converted into usable alternating current (AC).  The ‘buy once, buy right’ approach is a much smarter way to go than buying cheap. The amount of power that a solar power system gives directly relates to its cost. High-quality solar panels have superior lifespans, slower rates of degradation and they produce significantly more power not just on bright, sunny days, but in all weather conditions. Installing entry-level (cheap) solar panels and inverter technology may mean you spend less and achieve a slightly quicker upfront return, but you won’t achieve the long-term gain that a high-performance product offers.

READ MORE; How Much Does One Solar Panel Cost In Australia

How many solar panels are needed to power a house? 

The average homeowner needs 28-34 solar panels to balance their electricity cost with the price of the solar panels and the installation. These numbers are determined by assuming the average household uses about 10,400 kWh annually and the amount of electricity capable of being produced by 250-watt panels.  To calculate your own solar panel estimate, you need to look at how many kilowatt-hours (kWh) you use in a year. Your monthly bill will showcase your utility power consumption for the last twelve months.  For a better perspective, one kWh is equivalent to 1,000 watts of power in use for an hour. So, if your home has 20 lights that all use 50-watt bulbs, having them on for an hour uses one kWh of electricity. The number of panels your home needs also depends on factors like panel performance and location. The cost also depends on how big the installation job is.  Curious to know how many solar panels your home would need? You can get a solar panel quote from Shoalhaven Solar that is customised to your energy needs and property. This will help you evaluate installation, panel prices and find what’s most suitable for you. Solar prices in Australia have plummeted over the last decade, especially the price for a larger system.

• Let’s look at the price of a regular 3kW system, including installation.
• The typical cost for a 3kW solar system and installation is $5,950.
• The government rebate is $1,665.

Is solar getting cheaper and should I wait: solar panel price comparison

Solar is getting cheaper as every year passes due to the large speed in Chinese production, and market hyper-consumption. This along with the Australian government’s Small-scale Renewable Energy Scheme (SRES) has meant that installers have struggled to keep up with the demand of the last few years, and for good reason.  Should you wait? Not really. With the cost of power steadily on the rise in Australia and the interest-free finance available specifically for solar installs, there is no reason why you should not get a solar system installed taking advantage now of this far cheaper form of energy production.

READ ALSO; Cost Of Solar Panels In Australia

What Factors Affect The Solar Cost? 

• Solar energy costs vary significantly depending on the choices you make on the solar panel, inverter battery brand and solar system size, the location of your home, type of roof and the local solar installation market. These are some of the most critical factors affecting the cost of picking and installing a solar system.
• Solar System Size: Because solar panels are available in various capacities and configurations, a 10kW solar system will be more expensive than a 3kW system. An increase in the size of your solar system, expressed in kilowatt-hours (kW), will not only result in a greater output of electricity but will also necessitate a more suitable roof area to accommodate the necessary dimensions of the solar panels.
• Solar Installation Costs: As with all significant financial outlays, shop for at least three quotations before committing to a purchase. The rates set by the installer are their own, and they can vary considerably from smaller or local retailers to chain retailers, depending on whether the installation is included in a package or not.
• Adding More Components: Compared to other components of a solar system, solar battery storage systems are still relatively expensive; therefore, adding a battery will increase your purchase price. When deciding whether to add a battery to your system, consider how long you plan to reside at your current residence and how you intend to utilise the electricity you produce.
• Solar Rebates: Until its complete elimination in 2030, the federal solar rebate (STC) programme has diminished annually. This impacts solar pricing upwards, but its significance was overshadowed during the initial years of solar energy development due to the declining cost of solar. Significant reductions in wholesale solar equipment costs have not been observed since 2021. Consequently, the modest increase in solar’s net worth in recent years can be attributed to the diminished rebate value. The graph shown at the beginning of this article illustrates this.
• Solar Finance Packaging: Solar financing alternatives entail an interest charge. In contrast, solar bundles acquired from electricity providers entail stipulations like maintaining a particular electricity plan for several years.

Average commercial solar panel costs by city & size (February 2024)

Apart from considering the cost, it is crucial to prioritise the reliability and experience of the company you choose for your solar panel installation. Finding the right company can seem overwhelming, but Sunjuice Solar is here to help. With our affordable yet tier-one quality solar services, you can take the first step towards embracing renewable energy. Sunjuice Solar is committed to providing reliable and efficient solar solutions to residential and commercial property owners, ensuring a smooth transition to sustainable power. Join hands with us and embark on your renewable energy journey today.  Click here for more..

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