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Breakdown of Solar Panel System Expense

Ean GoodguySeptember 26, 20186920

Breakdown of Solar Panel System Expense

The world is talking about the benefits of solar.  This seems to be a great way to move into the future of cheap energy and save on your electricity bill. There are a lot of avenues to take on your journey toward solar energy independence. To be sure, the world is on that same journey at the moment, and prices are lower than any time historically for this innovative and clean energy source.  The solar power and installation trend remains growing worldwide reaching almost 300 gigawatts (GW) with a substantial increased new addition in 2016 (nearly 75 GW). Such amounts owe this exponential growth to two factors: policy resolution and solar photovoltaic (PV) cost reduction.

The primary determinant is linked to global incentives, such as Production Tax Credits, Feed-in Tariff, Net Metering, and Auctions, acknowledged by government agencies as a way to promote the development of this technology.

What's The Next Big Thing In Solar?

Let's check the trends!  The next big thing is directly related to the probability of installing a solar power system at reasonable prices and eventually obtaining a positive revenue from such an installation.

The last statement has a lot of topics to cover as many factors are determining the price of a solar system that varies by:

technology variety

geographical place

market scope

system size and form

policy considerations

taxes

local permits

installation contractors

 Solar PV prices also vary depending on the application of the solar system, whether it is for utility-scale, commercial or household purposes. In this article, we will focus on the residential solar PV.

 The main factors influencing the price of a solar system

Several Factors For Solar

Several factors must be taken into account to gain the best cost-efficient performance of a solar system. Some of them can be determined by you (as a homeowner) while others cannot.

The first is the determination of an off-grid or grid-connected system; such a decision depends on three parts:

The place of the installation; reliability of the energy utility; and the consequence of the load to be supplied by the panels. If your home or the load has access to a reliable power grid electricity then presumably the best technical-economical solution is a grid-connected PV system.

Such arrangement allows maneuverability to use the grid electricity when costs are low and turn the PV system on when costs are high, thus can reduce capital costs as the load would not need to be supplied by the PV system at all moments.

Once the choice of the system is fixed, then, comes the dimensioning of the energy load that demands to be supplied. This choice depends upon your request. The installer company should present the best array system configuration to supply the requested load.

Inside the system, the installer must take into consideration the following parts:

solar panels

inverters

racking system

grid connection

batteries (if needed)

 All of these parts are generally designated as the hardware necessary costs of a household PV system.  They will be needed if you want to start your jump into the solar revolution.  Here at HahaSmart, we can help connect you with local installers so that we can offer you the lowest possible prices for your solar installation.  

There are many opportunities for the future of solar.  You could be part of the action.  If you want to move into the future and join the solar revolution, or if you're going to find out what solar panels are right for you, don't forget to visit our solar blog section for more handy guides and articles.

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