What is the cost of a solar panel, and is it worth the investment? While solar panels can be costly at first, the amount saved on electricity bills, in the long run, makes the investment worth it. The cost of a solar panel depends on the size of the installation and the total kW, among other factors.
Thanks to government subsidies, the cost of solar panels continues to decrease every year. A 3Kw system in Western Australia will cost you an average of $3,000 -$3,500, but the cost can be higher in some areas. Expect to pay between $4,500 -$5,000 for a 5kW system. A 10kW system, on the other hand, might cost you anything between $9,000 -$11,000.
Factors to Consider that can Affect Price
The pricing of solar systems depends on several factors like size and power capacity. A 10kW solar panel will cost you more to install than a 5kW, more so due to the power saving capabilities. Also, small-sized solar panels, due to their lesser ability to trap and retain sunlight, cost less than larger sized panels.
The type of brand selected is also an essential factor to consider when it comes to cost. Some solar panels will cost you more depending on the brand. Well-known brands tend to charge more while upcoming solar panel companies tend to retail their products at slightly lower costs to enhance their market penetration strategies.
You will need to be extra careful when selecting a solar panel supplier since rebates are available for products bought from certified retailers. Small Scale Technology Certificates vary in total price depending on several factors. You qualify for STCs when you purchase solar panels and batteries from retailers who are certified.
Ensure that you buy from fully licensed retailers. You should always take your time to confirm that the solar panels are fully insured and that they satisfy Australian standards 100%.
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