When homeowners are considering installing solar panels, the initial cost of the panels can be quite tricky to work out. It depends on the size system you're after, the brand (read: quality & efficiency) system you want, even the size and type of roof you have.
The good news is that the price of solar technology has been getting cheaper than ever - the cost of high-efficiency solar panels dropped 37% in 2017. Government subsidies are still in place - and your solar panel retailer/installer will arrange all of this for you and will generally quote you the final subsidised price.
Finding the right panels for you
As a very rough guide, in Australia the approximate cost of a 3kW system costs between $4,000 and $6,000, a 5kW system costs between $5,000 and $8,500, and a 10kW system costs between $12,000 and $16,000.
The initial cost of a solar panel system is entirely dependent on a few factors. While the size and output of a solar system have an evident impact on the cost of a solar system, the brand of the panels you choose in addition to the model will affect the final cost of the solar system.
For example, top-of-the-line panels from SunPower can be much more expensive than mid-range panels from Canadian Solar. This is not to say that SunPower should always be homeowners' first choice due to their high quality. It is entirely dependent on the needs of individuals – they might want the best value and efficiency per dollar spent, and in this case, Canadian Solar panels would fit the bill perfectly.
Factoring in the other bits
Although the cost of the solar panels might be the steepest portion of your foray into solar, it is also helpful to keep in mind that installation and a solar inverter will need to factor into the final cost. When discussing these options with your solar installer, it is always a good idea to make sure these options are clear when clarifying the final price. Do be careful of solar retailers quoting rock-bottom prices without including extra costs that their electrical subcontractor will charge to install your system. This is unfortunately common, and once you've paid your deposit and signed the contract, it is very hard to get out of when you get slugged with the extra fees when the installer comes around.
Factoring in government rebates
To get an idea how much you’ll receive in rebates, Australian Government’s Clean Energy Regulator offers a calculator to work out the small-scale technology certificates that you would get for your particular system. This calculator lets you input the size of your system to ensure that you receive the correct rebate.
Want to learn the cost of your solar system?
If you need advice and a tailored quote related to solar panels for your particular home, don’t hesitate to get in touch with Renew Energy today. We’d be very happy to walk you through the brands we install, and can help you choose the right panels for your needs.