The solar industry is thriving and many governments are supporting solar installations with financial incentives. Experts say, that solar panel prices will continue to fall and incentives will become increasingly unnecessary. If technologies are standardizing, a greater adoption of solar panels is encouraged and result in economies of scale. As consequence, panel prices will decline constantly.
Panel prices are just one financial aspect of a whole rooftop system. Installation components like wiring, converters and racking often make up about half of the total costs.
Installation costs also depend on mounting requirements, which can have a significant influence on solar panel prices. A ground mounted solar array has other requirements than one that is mounted on a roof. The type of roof plays an important role as well. Complicated support structures increase panel prices whereas good installation conditions reduce panel prices.
Panel Prices Depend on The Type And Size of A PV-System
Panel prices also depend on the size of the solar array – the bigger it is, the cheaper the price per solar panel. Solar panel prices can be divided into three pricing categories: Panel prices for small quantities (panels of all sizes in the kilowatt range annually), mid-range quantities (up to 10 MWp annually), and large quantities (more than 10 MWp annually). Large quantity buyers have access to the lowest solar panel prices.
Panel prices also depend on the type of solar cells which are used – efficient monocrystalline solar cells are more expensive than polycrystalline cells.
Many different aspects have an influence on solar panel prices. The question of how much the installation of solar panels really costs can only be answered individually by a professional solar installer.