Solar Panel Cost For Home
Solar Panel Cost For Home: Cost Of Solar Panels And Battery Victoria
Solar energy has become incredibly popular as a more affordable and environmentally friendly alternative to conventional electricity sources in recent years. Solar panel installation for a home has grown in popularity as people look for ways to lower their carbon footprint and save energy costs. We’ll dive into the specifics of residential solar panel costs, offering information on the variables that affect the price as well as advice on how to make an informed choice.
Since 2012 and 2014, respectively, Solar Choice has published the Solar Panel Price Index for residential solar and commercial solar. Our pre-vetted network of over 200 installers provides pricing, product, and warranty information, which we regularly compile to create the Residential Solar PV Price Index and Commercial Solar Price Index. We revise this data every month to assist Australians in comprehending the price of solar panels.
Four key variables affect solar panel prices in Australia.
- Wholesale equipment costs
- The Australian Dollar
- The Solar Rebates
- Competition and Cheap Solar Panels
Solar Panel Cost Factors For Homes: Cost Of Solar Panels And Battery Victoria
Location
Your total cost and savings from going solar will depend on two important location-based factors: how much sunlight you receive and how much energy your home currently costs. You can save more money on energy bills by switching to solar power in states like California, Hawaii, and New York where the cost of traditional energy is higher. The quantity of sunlight you get, however, also has a big impact on how many solar panels you’ll need and, consequently, how much your system will cost. If you reside in a state with abundant sunshine, such as Arizona or New Mexico, you will need fewer solar panels to meet your energy needs because you will have more daily peak sunlight hours.
Energy Needs
The average household in the United States uses approximately 886 kWh of electricity per month, or 10,632 kWh annually. Your energy needs, however, can vary depending on several factors, such as the size of your home, the number of people living there, and whether or not you drive an electric vehicle (EV). The larger the solar panel system required to offset your usage, the higher the energy consumption of your household. For example, a 6 kW system would cost you about $18,000, and a 12 kW system would double the cost, based on our average cost of a solar panel at $3 per watt with installation.
Solar System Size
Your solar system’s price and size are directly correlated. Your system will cost more the more solar panels you install. The size and angle of your roof, how much energy you use, and where you live all affect how big of a system you should install. The size of your solar system ultimately depends on how much energy you want to produce with your panels and how much your household uses.
|
System Size |
Estimated Annual Energy Production |
Average System Cost (Before Incentives) |
|
4 kilowatts (kW) |
5,600 kilowatt-hours (kWh) |
$11,400 |
|
6 kW |
8,400 kWh |
$17,100 |
|
8 kW |
11,200 kWh |
$22,800 |
|
10 kW |
14,000 kWh |
$28,500 |
|
12 kW |
16,800 kWh |
$34,200 |
Purchasing Options
The most cost-effective option when purchasing solar panels is paying in cash upfront. With a cash purchase, you will own your system and not pay interest on a loan. However, because solar systems are expensive, paying in cash is not an option for most homeowners. The next best option is to put some money down and finance your panels. Although you will pay interest over the loan period, you will still own your panels and benefit from energy savings. The more money you put down, the less interest you will pay over time.
Average commercial solar panel costs by city & size
|
10kW |
30kW |
50kW |
70kW |
100kW |
|
|
Adelaide, SA |
$10,400 |
$30,480 |
$53,420 |
$75,750 |
$93,580 |
|
Brisbane, QLD |
$10,220 |
$28,820 |
$51,140 |
$68,940 |
$90,280 |
|
Canberra, ACT |
$10,030 |
$32,630 |
$52,430 |
$71,180 |
$97,390 |
|
Hobart, TAS |
$12,360 |
$27,490 |
$47,100 |
$65,330 |
$78,100 |
|
Melbourne, VIC |
$10,200 |
$27,060 |
$48,380 |
$63,490 |
$84,140 |
|
Sydney, NSW |
$10,730 |
$26,330 |
$48,660 |
$63,820 |
$83,060 |
|
Perth, WA |
$11,480 |
$30,890 |
$58,830 |
$72,630 |
$96,010 |
|
All |
$10,770 |
$29,100 |
$51,420 |
$68,730 |
$88,940 |
Advantages of Purchasing Solar Panels for Your House
Despite the initial costs, installing solar panels in your house has many long-term advantages:
- Reduced Energy Costs
- Return on Investment (ROI)
- Impact on the Environment
- Energy Self-Sufficiency
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A home solar panel purchase is a commitment to sustainability and energy independence in addition to being a financial decision. Homeowners can decide whether to switch to solar energy with knowledge of the variables affecting solar panel costs and the long-term advantages they provide. Solar panels offer a practical and environmentally friendly way to power homes all over the world in light of the rising cost of electricity and the expanding concerns about the environment.