How Much Will Solar Panels Cost You?

How Much Will Solar Panels Cost You?

Solar panel installation doesn’t have a set price and can vary depending on a number of different factors. It can depend on the size of the panel, the size of your home and your energy needs. Solar panels come in different sizes and usually range from 3kW to 8kW.

Below are some factors that will affect the cost of installing solar panels in your home.

What factors contribute to the costs?

While some of the factors are mentioned above the complete list of factors including the average cost of utility and energy consumption in your home, the amount of sun your rooftop receives, the cost of solar panels in your area, the labour costs in your area, and the rebates and local incentives in your state.

With the increase in the recognition of solar panels, the costs of installing solar panels are dropping down drastically. This is because the manufacturing of solar panels is less costly now when compared to when they were first introduced.

Governments are now encouraging people to switch to this source of renewable energy so therefore quite a bit of incentive and rebates are being offered too.

However to get the exact costs of solar installation in your state contact a professional solar company to get your solar quotes Brisbane, Melbourne or Sydney. There are plenty of options around Australia now.

How do I decide the Solar Panel Size?

According to statistics an average household will consume around 905kWh per month which amounts to around 10,580kWh per year.

An average household that receives a decent amount of incident sun rays can install a 5- or 6-kW system to easily hit this number and reduce their utility costs. There are maps and tables for each state that help you calculate the amount of sun that you get all year round.

The catch here is the larger the system lowers the cost per watt will be. The cost bet watt will usually include the cost of the solar panels, labour, overhead and permits if required. Try to look at solar installation as an investment because after a couple of years you can get back the initial capital and even start making a source of income if you make extra electricity that can be sold to the grid.

How many solar panels should I start with?

After deciding the size of the system this is usually an easy calculation. To determine this number, you first need to know the average utility costs for the year. Then you should decide on the type of solar panels you want to install because the energy and efficiency differ between different types.

The usual guideline is that you can get around 3600 kWh to a maximum of 4800 kWh per year from a 3-kWh system while a 5-kWh system can generate around 6000 to 8000 kWh per year.

While these calculations can be done at home, I recommend that you do your homework and then consult professionals who you can work with to determine the exact cost of installation for your home.