If you have been planning to harness solar energy at home, the cost to install a solar system is one question that might have crossed your mind several times. Searching for answers on Google and you are bound to add to your confusion. Different companies quote vastly different prices for the same sized solar systems. The aim of this guide is to give you a benchmark price to go by so you will be able to shop with confidence and know you are not getting ripped off.
One of the major reasons is that different companies use different quality panels and inverters, so the equipment they use may cost twice as much as another brand. Is it twice as good? Well, not always. You can buy a Sony TV for a high price or spend far less and get an LG. They are both of high quality, but just have different price points in the market.
Another reason for such conflicting quotes is the fact that the price of solar panels have changed over the course of time. For instance, if you are reading a blog post that was published 5 years back you aren’t likely to get up to date prices on how much solar panels cost to install in today’s market.
Average Cost of Solar Panel systems
The solar panel market is extremely dynamic and the prices keep changing depending on supply and demand. Most of the solar panels that are being marketed in Australia come from China which has become the global manufacturing hub for PV panels and hence, the prices of panels are also dependent on the Chinese economy. I’m not going to recommend brands here as it is beyond the scope of this article, but there are different quality systems coming from Germany and Canada.
The average asking price for a 5kW solar panel system (installed) is $AUS 4,600 as stated by gosolarquotes.com.au. There may be variations depending on when you buy these panels and the equipment used, but this is a good price to go off. 5kW solar panels are enough to power an average home with all the regular appliances and 3-4 people living there.
Thanks to the increasing awareness about solar energy and the demand for solar panels, there are several websites that keep track of the prices and the installers themselves. So not only are you able to quickly see what companies in your area or city are offering, but also you can check out Facebook and Google reviews to get a real indication of how they perform.
I don’t recommend you look on a company’s own website or reviews for obvious conflicts of interest (they might be fake), but I do recommend you look at a couple of different platforms and make sure they have an average of 4.5 stars or higher.
Another effective way to determine the cost of solar panels and installation is getting a quote for yourself. Get not only one but two or more quotes from solar companies near you since there are some factors that can affect the cost such as: location of your home, the amount of electricity you consume, the type of solar panels and solar inverter you’ll buy and how easy or difficult it is to install your solar panels on your home.
This can help you really determine how much you have to shell out and invest. You can also set a budget on how low or high you can go so you know which type of solar panels and solar inverter are fit within your budget.
Ask friends, neighbors, or co-workers who has a solar system installed in their home to further your knowledge and you can get recommendations with the companies they engaged with. Ask some tips and ask if there is something they should have done before installation or brands they should have gone for. This will give you a clearer idea together with the research and quotes you have.
While you may find solar systems that are far cheaper than this, I suggest you do your homework and get something that is going to last and has a warranty greater than 20 years minimum.
Scare tactics by larger companies
Once you step into the solar area you will find larger companies trying to scare you into going with them. Their classic line is “how long will these local companies stay in business?, what happens to your warranty in 5 years”…. Don’t fall for it.
Warranty on solar panels is a manufacturer’s warranty, so you should not have an issue replacing a panel if needed.
The bottom line
The bottomline is if you are planning to install solar panels you should find the prices on websites which let you gain deep insights into the market. Sites that suggest contractors based on customer feedback and value for money are gold in this industry. Following them you will be able to find the solar panels at the best price without having to make any compromises on quality. Getting quotes can get you a more accurate price on how much you need to spend since they’ll do an actual ocular visit to your home. This will help you stop wondering and getting your answer and help you make a decision.
Switching to solar energy is a step in the right direction for a greener future and an opportunity for you to slash your power costs by up to 80%.
Summary – In this write-up we take a look at how you can determine solar panels cost and how you can find the best prices for solar panels.