Are Solar Power Panels Expensive

Prices vary based on a few key factors.

Are solar power panels expensive.

For utility scale solar projects completed this year the average cost of electricity generation over the lifetime of the plant called the levelized cost of electricity was between 35 to 55 per. This out of pocket cost included the panels themselves and the inverter which transfers the power into usable electricity. Soft costs or the outlays that installers spend just trying to find you and appeal to you also contribute a significant percentage. There s no doubt about it.

Solar panels and solar energy overall is a pricy investment even in light of recent cost reductions. But four 327w sunpower panels would take up the same overall area and form a more powerful 1308w array although the sunpower panels would cost you more. However like any investment the initial payment can be worth the payout later. Whether a 6 6kw system is an appropriate size installation for you or not is a good question.

But solar panels are a lot cheaper now than they were even just a few years back and in many states they now offer an excellent return on investment. Solar panels cost much less than they used to. Monocrystalline solar panels will last longer than polycrystalline or the thin film ones and therefore providing better revenue in the long run. While the most expensive part of going solar is paying for the equipment it still only represents 25 percent of the overall expense.

Current average cost of solar panels is nearly usd 0 64 per watt in the united states 2. My longer reasoning is here. The average price across australian capital cities for a 5kw system is 5100 and solar technology is only getting cheaper. So when it comes down to it solar isn t really that expensive after all.

Efficiency capacity and your location. The lifespan of solar panels is also significant. In 2020 it s the minimum i d recommend you put on your roof assuming it can fit. According to the solar energy industries association seia the median installed price for solar energy systems fell 70 in the last decade 2010.

The wilkes bought a 6 6 kilowatt system for 7 500 after the federal government rebate which was about 4 000. That s about the average size and cost of a solar installation according to choice. Solar panels generate free electricity but there are still costs associated with installing them. Not only is it affordable over the life of the system even saving you money but it also improves your resale value and reduces greenhouse gas emissions from fossil fuels.

Cost to you for 6 6kw of solar power. No it really isn t that expensive after all.