How Much Do Solar Panels Cost?
October 08, 2020
When considering solar it’s important to be well informed about your investment. How long will it take to receive a return on your investment and what exactly are you paying for? Panels play a large part in a system cost – they aren’t the only expense – but it’s good to know a little more before you buy. So how much do solar panels cost?
The Short Answer
If you’re looking for a quick price, we have a handy tool that recommends system size based on your electricity bill and the amount of time you’re home. Complete Step 2 of the form and you will automatically receive a link via SMS with three pricing options, without having to wait for a call back.
The Long Answer
If you’re looking for a more in depth answer, then consider these five things:
1. Price per Watt
At the most basic level, panels are priced per watt. Typically you can expect to spend between 50c and $1.20 per watt, depending on the panel.
From there, it’s simple math to calculate your panel price. For example:
- 275W Panel @ $0.55/watt = $151.25 ex GST
- 300W Panel @ $0.55/watt = $165.00 ex GST
- 345W Panel @ $0.55/watt = $189.75 ex GST
- 275W Panel @ $0.75/watt = $206.25 ex GST
- 300W Panel @ $0.75/watt = $225.00 ex GST
- 345W Panel @ $0.75/watt = $258.75 ex GST
Brand name is the next player in panel price. At Energy SA, we aren’t biased towards any one brand. We’ll make recommendations for your situation, but ultimately the panel brand is your decision. See more info on some of our brands here.
Why some brands are more expensive than others is a question that belongs to marketing gurus and psychologists. As such, it’s a bit outside the scope of this article. However, in the solar world, brand power is about 3 key things:
- Engineering quality, innovation and prestige
- The support of a global company
- Warranty and reliability. It’s important to consider that if a company boasts a 25 year warranty, they need to be around for 25 years to back it. If they are new in the game or aren’t backed by a multinational, the length of their warranty might be irrelevant.
We don’t often pay attention to the roof over our heads, but aesthetic does play a large role in our purchases. Most panels look very similar, but it’s the subtle things that make a difference. It’s not uncommon to find panels with black trimmings instead of silver, and busbars that are nearly invisible. Perhaps this is why solar roof tiles have gained so much popularity in recent times?
4. The Retailer
The last thing to consider in the pricing chain is the retailer.
As a retailer and solar installer, we are a little biased to be credible on this topic, but it is important to consider the retailer in your search for solar.
Each retailer is a business, and as such, they markup their panels and systems. This is where competition comes into play. At Energy SA, we will be competitive, but we will never compromise on quality.
5. STCs and Government Rebates
At this point you may have calculated a ball park figure for your system. However, it’s important to note – and in your favour to consider – STCs. STCs are Small scale Technology Certificates. STCs are the Australian government’s scheme to assist in offsetting the cost of solar. In most cases this will save you thousands. But don’t be fooled into thinking you’ll get a double discount. Most retailers will quote your price after calculating the STC discount.
Solar systems are more complex than slapping a panel or two on your roof. What else do you consider when making decisions about solar? Is brand prestige important to you? How much would you be willing to pay for a more aesthetically pleasing panel?
If you’re considering saving money on electricity bills by going solar, we’d love to chat through your needs. Drop us a line here or contact us on (08) 8374 1491 to chat with one of our Adelaide based team.