Starting the transition to solar energy may be an exciting process, yet it can turn out to be extremely challenging if it is not done with complete knowledge and understanding. Knowing how much money has to be spent on solar panels installation is one of the most important factors.
Making an informed choice requires investigating this sustainable power source’s cost dynamics. Assessing the entire cost is essential, including equipment costs, installation fees, and any savings. Understanding the complexities of solar panel prices highlights the long-term advantages of switching to renewable energy sources while also assisting with financial planning. Today, we will explore the nuances of solar panel installation prices to shed light on this sustainable financial decision.
Here are some of the factors that directly impact the price or cost before finalizing the solar panel installation company.
Type of Solar Panels
The industry offers a variety of solar panel types, such as thin-film, polycrystalline, and monocrystalline panels. Solar panel prices in India vary according to factors including technology, durability, and efficiency. The most lasting and efficient solar panels are usually monocrystalline ones, but they also cost more.
Although polycrystalline panels are less expensive, their efficiency is somewhat lower. The least cost and least effective type of panel is thin-film. Depending on the kind and calibre of panels you select, solar panel prices in India can range from INR 20,000 to INR 50,000 per kilowatt (kW).
Location of Installation
Areas with less solar insolation could need a bigger solar system to produce the same amount of power, which would raise the total cost. On the other hand, higher sun insolation areas will generate more power, increasing the appeal of solar panels as an investment.
Additionally, because every state has a separate set of laws, rules, taxes, and regulations, installation charges might change as well.
Size of the Solar System
The total cost is greatly influenced by the size of the solar system you install at your house. A domestic solar system in India can typically have a capacity of 1 kW to 10 kW or more, depending on your energy needs and the amount of roof space that is available. Because of economies of scale, the cost per kW tends to go down as system size grows. In India, the price of a standard 5 kW household solar system can range from INR 1 lakh to INR 5 lakhs, contingent on the previously listed criteria.
The entire cost of installing solar panels in India
Depending on the location and the previously stated parameters, a 5-kW solar panel system with high-quality components might cost between INR 2 lakhs to INR 8 lakhs. Remember that depending on your unique situation, the real cost may differ greatly from this approximate estimate.
A quite simplified breakdown of the cost that a Solar Panel Installation Company can charge you starts with solar panels themselves, size of the system, location, labour costs, and additional costs such as batteries, wiring, accessories, grid connection, inverter, insurance, maintenance, and mounting structure.
Choosing a solar installation company would also influence the final cost of installation, therefore, try choosing a reliable one after careful consideration. However, you must consider checking government subsidies, schemes, and tax benefits because it could assist you in lowering the cost of the installation.
Conclusion
Before finalizing the solar panel installation company, you need to familiarize yourself with all that has to do with the installation, cost, and other related factors. Then only you can enjoy the full potential of the solar panels.
The kind and quality of the panels, the difficulty of the installation, the Solar Installation Company, government subsidies, and other factors can all affect the cost of installing solar panels in India.
Accurately estimating the total investment may be achieved by comparing quotations from many reliable installers and taking long-term savings into account.