Usually, solar panels are always bought with an inverter, so we refer to the cost of the solar power system, rather than the cost of a solar panel. A key factor affecting cost is the size of the solar system you require.
A small 1.5Kw system can generate 7 units of electricity. This system would require fewer panels than a much larger 5Kw system, that can generate 22 units of electricity. To give you a rough guide, a 1.5 Kw solar system costs in the region of $2,500, compared to a 5Kw system that will cost nearer $5,000. However, there are always competitive deals to be had and solar system prices will vary according to requirements.
To decide the cost of your solar panels, you must first understand your usage needs. This will then determine the size of the system you require. Our experienced sales team and consultants will be able to guide your decision based on;
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Besides the size of the system, there are other factors that affect cost of Solar Panels. These may include:
Solar panels have never been more affordable. Not only has the price of solar panels come down, but improvements in technology mean that you are getting better ‘bang for your buck’. In 2014 an average a 5Kw solar system cost approximately $7,500. Today you will find 5KW system for substantially less.
Rebates and incentives are also still available. Currently, you will receive 7c per Kw that is fed back into the grid, and both companies and home owners receive large discounts in the form of Small- Scale Technology Certificates (STC’s), and Renewable Energy Certificates (REC’s).
In most cases, you can get payback on your investment in less than three years. Find out a guide on your payback period with our calculator.
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