The renewable energy industry is booming particularly with the use of solar panels. Many governments are incentivizing solar installations with subsidies and tax breaks. Experts predict that as a result, solar equipment prices will continue to fall and incentives may even become unnecessary. Standardizing technologies allows for a greater acceptance and adoption of solar panel usage as well as encourages economies of scale.
Solar panel prices are just one financial aspect of a whole rooftop system. Installation components like wiring, converters and racking often make up about half of the total costs.
Installation costs also depend on mounting requirements, which can have a significant influence on solar panels prices. A ground mounted solar array has other requirements than one that is mounted on a roof. The type of roof plays an important role as well. Complicated support structures increase solar panel prices whereas good installation conditions reduce solar panel prices.
Solar Panel Prices Depend on The Type And Size of A PV-System
Solar panel prices also depend on the size of the solar array – the bigger it is, the less expensive each panel will be. Solar panel prices can be divided into three pricing categories: small quantity prices (panels of all sizes in the kilowatt range annually), mid-range quantities (up to 10 MWp annually) and large quantities (more than 10 MWp annually- large quantity buyers have access to the lowest solar panels prices.
Solar panel prices also depend on the type of solar cells which are used – for example efficient monocrystalline solar cells are more expensive than polycrystalline cells.
Many different aspects have an influence on solar panel prices. The question of how much the installation of solar panels really costs can only be answered individually by a professional solar installer.