How much is 1 Solar Panel Cost
The cost of avaries depending upon its power production capability or wattage, its type and model, its availability on the market, and the price set by a particular company for its product. Solar panels help you cut your energy bills, however, it is important for you to know the cost of setting up a solar panel system so that you can plan your budget. In other words, you should know what a solar panel costs you, and what it saves you. There are different factors that affect the price of a solar panel. Let’s look into them in detail for better understanding!
Pricing Factors for a Solar Panel
Some important factors affecting the price of a solar panel are:
Type of Installation
There are different types of solar installations such as roof mounts and ground mounts, etc. Ground mounts can cost higher for labor and components as they require additional posts that anchor into the ground.
Power Density and Color
Power density can be defined as the amount of power produced by a panel per unit of size. Generally, the cost of a panel increases as its power density increases. Moreover, a basic panel consists of a silver frame, a white back sheet, and a blue cell. Panels with a black back sheet, or a black cell are found to be more expensive in general.
The type of inverter being used also affects the pricing of a solar panel. String inverters are usually thought to be more cost effective than other types, and they are mostly preferred by the homeowners.
Energy Production and Consumption
If the panel is required to produce more energy, it will cost more. Cost of a solar panel is directly proportional to its wattage and size, which in turn are directly proportional to the required output. There is a rule of thumb generally used to understand this: the bigger the panel, the higher the cost.
The process of connecting a solar panel system to the community power grid is called Interconnection. For each panel system, the interconnection connection cost is different depending mainly upon its type.
Type of Roof
Solar panels can be installed on different types of roofs such as metal, shingle or flat roofs. Different components and levels of labor are used for each type of roof, which affects the overall cost of the panel. In case of a metal roof, racking is connected directly to the metal. On a flat roof, panels are installed by using a ballast mount, which is a tray that is held in place by a concrete block. Hence depending upon the type of the roof on which it is being installed, the cost of the same panel may vary.
There is no fixed price for a solar panel as it depends on a number of factors. However a rough estimation can be made while keeping in view the aforementioned points.