Solar Panel Cost For A Home

Solar Panel Cost For A Home: cost of solar panels qld

While the cost of solar has decreased considerably in recent years, a solar energy system remains a heavy investment for most households. But just how much are solar panels these days? What about solar panel installation cost? This guide involves the cost of buying and installing solar, including solar panel prices, using data surveys to show the average costs of solar panels, installation, batteries and packages in Australia.

How much does solar cost?

How much solar costs will differ greatly depending on your location, the size of solar system your install and the quality of products used in the installation. Solar costs are divided into the solar panel cost, solar inverter cost and the overall solar installation cost. There will be an additional cost if you add a battery to your solar system.  Some solar installers may give out all components of a solar system as an all- inclusive package, where others may break out the costs of each component in your quote. Solar installation costs also factor in discounts from the Federal Government’s Small-scale Renewable Energy Scheme, which offers incentives for households to install eligible renewable energy systems. These incentives are provided in the form of small-scale technology certificates (STCs).  How many STCs your solar system is eligible for depends on your location, date of installation and how many megawatt hours (MWh) of electricity it generates over a predetermined period. You might choose to assign your right to the STCs earned by your solar system over to your installer or system retailer in return for a lower purchase and installation cost.  Generally speaking, STCs can cut the cost of getting solar by a considerable amount. The Clean Energy Regulator has plenty of information on STCs, including on how you can assign your right to them in return for savings on a system.  As you can tell, there are many variables that can impact the cost of solar, from solar panel price to how easy it is to install them on your roof. Canstar Blue’s consumer surveys allow us to calculate the  average costs of solar panels, solar installations, solar packages and solar batteries in Australia. For a solar cost estimate for your home, it’s important to get a detailed quote that’s specific to your property and electricity needs from an accredited, licensed solar installer.

Average cost of solar panel: cost of solar panels qld

The average cost of solar panels in Australia was $5,667, according to a Canstar Blue survey of more than 1,300 adults in December 2022. Respondents came from a variety of household sizes and had purchased a variety of system sizes. The costs reported were from survey respondents who bought their solar panels separately, not as part of a solar package. Only states and territories that received more than 30 survey responses have been included in the table below.

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

Average solar installation cost

Canstar Blue found the average solar installation cost was $3,928. These costs were provided by survey respondents who did not buy an inclusive solar package. Again, the costs reported include a range

Average solar battery cost

A solar battery costs roughly $10,000 before installation, according to SolarQuotes, which cites a further $1,500 estimate for the amount a battery can add to solar installation costs – and both figures can be much higher depending on the brand of battery and complexity of installation. For e.g. the well-known Tesla Power wall costs about $15,500 to buy and install. Whether this significant additional cost is worthwhile depends on what type of electricity tariff you’re on – single tariff or time-of-use tariff – and even whether you can access a battery rebate in your state or territory. Joining a Virtual Power Plant program can also be a way to get a discount on a battery. SolarQuotes has extensive info on how to get a payback on the cost of a solar battery.

Average solar package cost

The average solar package cost was $5,521, according to the same Canstar Blue survey conducted in December 2022. A solar package was defined in this survey as an all-inclusive package that included panels, inverter, battery and installation costs as a single cost, with the findings comprising a range of household sizes and system sizes. We’ve broken the average cost down to a state and territory level for areas that met the 30-response minimum.

Factors That Determine How Much A Solar Panel Costs

It’s easy to give ballpark figures for the cost of solar panels, but in reality, many different factors determine the actual cost of your panels and solar ecosystem. Here are the main factors that will impact your overall cost.

READ ALSO; Solar Power Systems Prices In Australia

• Panel Capacity: When choosing solar panels, the most obvious point to consider is their rated power. Most panels range from 100 to 400 watts of rated power, indicating how much energy each panel can capture under ideal circumstances.  Needless to say, the higher the wattage, the greater the solar collection. The sunlight captured translates to a higher energy output for home use.  To give you a rough price difference, a single 100-watt panel will cost between $200 and $500, while a 400-watt panel will set you back between $600 and $1,500.
• Cell Construction : If you’re wondering how panels with the same capacity can have such a price difference, it’s usually down to their construction and conversion rate, which we’ll come to next.  Solar panels consist of individual cells made up of thin film, monocrystalline.
• Conversion Efficiency Rating: Rated power is the first thing you’ll probably look for when shopping for solar panels. The second should be the conversion efficiency rating.  Solar efficiency, also known as the conversion rate, refers to the amount of sunlight converted into electricity through solar panels. There can be quite a dramatic difference between the best and worst efficiency ratings.  As you might expect, the cheapest solar panels have the lowest conversion rates. You might think you’re getting a bargain with those dirt-cheap panels. But you are substantially diminishing the amount of energy you can collect and reducing the overall benefits of going solar in the first place.  That’s why we always recommend going for the highest efficiency possible.  Solar panels in Australia typically have conversion rates of anywhere from 11% to 22%, with the different rates almost certainly having a significant bearing on the price.  Conversion rate is one area where monocrystalline solar cells outperform polycrystalline and thin film cells. For example, with EcoFlow portable solar panels, you’ll find monocrystalline silicon cells, which offer industry-leading conversion efficiency at 22.4%.
• System Costs: Another critical point to consider when calculating overall costs is that solar panels alone cannot generate energy to be used in the home. You’ll need some configuration of an inverter, batteries, a controller, and a generator to complete your solar power system and allow you to begin reaping the benefits of Australia’s abundant solar energy.  While buying each piece of equipment separately is possible, you’ll probably find it cheaper to go for an integrated system with everything included. EcoFlow power kits come with a hub that integrates the charge controllers, battery, converter, inverter charger, and more.
• System Installation and Labour: Labour costs will depend on the type of renewable energy system you install. As noted, you can install rooftop systems yourself, but the risks of falling or incorrect installation may make professional installation preferable. Another option to consider is to circumvent rooftop systems altogether. EcoFlow portable solar panels come with a foldable design and kickstand case that lets you position the system for optimal light capture  and you can place them anywhere without having to set foot on a ladder!
• Renewable Power Incentives: The final factor to consider is renewable power incentives, which can help ease the cost of a solar panel system.  The Australian government is offering a range of incentives to lower the overall cost of solar panels and their installation. These include interest free loans to help cover the cost and excellent discounts on products that can make installing that solar system even more attractive than it already was. Investing in solar panels for your home offers a myriad of benefits, including cost savings, environmental sustainability, and energy independence. By understanding the factors influencing solar panel costs and calculating the potential ROI, homeowners can make informed decisions and take a step towards a cleaner and more sustainable future.

While the cost of installing solar panels for a home may differ based on several factors, the long-term benefits often outweigh the upfront investment. With advancing technology and supportive government incentives, now is the perfect time for homeowners to explore the possibility of harnessing solar power to meet their energy needs and contribute to a greener planet. Click here for more..