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What is the Cost of Solar Panel Installation?

Rising electricity demand and bills are encouraging more and more people every day to adopt solar energy. Solar Power Plant is a capital intensive and long-term investment, so it is very important to know details of the components and their cost before planning to invest in solar. In this blog, we will understand the various components of a solar power plant and factors which affect the cost of the solar system.

Solar System Components

The solar system is made of four main components. Each component has its core requirements, as well as these, are complementary to each other. If one of these components is missing, then the solar system will not be able to work. These four components are:

    • Solar Panel
    • Solar Inverter
    • Module Mounting Structure
    • Solar Panel Installation Accessories

Solar Panels – 
Solar panels are the most important component for the whole system because solar cells convert solar energy into electricity. Solar panels are available in three types: Monocrystalline, Polycrystalline and Thin Film. These panels are available in the market according to their power generation capacity. Their prices depend on many factors like brand, technology, generation, capacity, etc. Its price may vary from Rs19 to Rs23 (per watt) with a performance warranty of 25 years.

Solar Inverter –
Solar panels generate electricity in Direct Current (DC) form, while the electrical appliances need AC form of electricity to run. A solar inverter converts the Direct Current (DC) to AC (Alternating Current) to run the appliances.
There are many types of solar inverter available in the market. With new technology, the solar inverter is evolving day by day. Micro-inverter is the latest technology available in the market. The Solar inverters come in different capacities. Their price also varies on various factors like brand, technology, generation, capacity, etc. Its price may vary from Rs2.5 to Rs7 (per watt) with a warranty of 5/7/10 years.

Module Mounting Structure –
Module Mounting structures give proper support and inclination to panels so that Solar panels get proper sunlight and generate optimum amount of electricity. Along with this, the mounting structure also protects the panels from wind. They can be of GI, HDGI or Aluminum depending upon the roof type and location. The price of Module mounting structure depends on the local market prices.

Solar Panel Installation Accessories –
Besides the above components, some small components like distribution boxes (ACDB & DCDB), Wires (AC & DC Both), Connectors, Earthing kit, lightening arrestor etc. are also needed in solar system installation. These are easily available in the local market. The cost of these components depends on the local market prices.

Factors Which Affects Solar System Cost

Different Solar systems have different capacities of performance. Not all solar systems are suitable for all applications, contact one of our sales consultants for an unbiased opinion on what solar system will work best as per the requirement. The following sections will give you a brief overview of the various factors affecting the cost of solar system.

Electrical demand –
Before deciding the size of the Solar PV system, you need to check about the average monthly unit consumption of your household/ Institution / factory /office. For knowing the correct way to calculate the size of your Solar PV system, you can refer to the our Solar Calculator.

Choice of Solar panels –
Different solar panels come with different efficiencies and sizes. The cost of the panels goes up with the efficiency. Besides, different solar panels are produced in different areas of the world and carry different warranties. All of these factors can affect the price of solar panels.

Off-grid, On-grid, or Hybrid Solar System – 
Based on your requirements, we can help you design a system that is completely Off-grid or is Grid-connected with a battery backup or On-grid. Each system has different advantages and require different kind of inverters. All of these factors affect pricing. The same system size might have a wide variance in pricing based on the type of system it is. For example, a 10 kW grid-connected system is much cheaper than a 10 kW off-grid solar system simply because of the addition of energy storage.

SOLAR SYSTEM INSTALLATION COST VARIES WITH PER WATT CAPACITY OF THE SOLAR SYSTEM. 

If you liked this information or you want to give any kind of suggestion, then you can comment below in the comment box. Stay connected for important information with Visol India.

If you liked this information or you want to give any kind of suggestion, then you can comment below in the comment box. Stay connected for important information with Visol India.

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