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What Determines Solar PV Panels Cost?

What Determines Solar PV Panels Cost?

One of the most important aspects of a solar energy system is the price you pay for it. solar PV panels cost depend on the size of your system, the type and quality of solar cells, and other components in the solar power systems such as a battery or UPS. In addition, the type of inverter used can affect costs as well. Solar inverters can include string inverters, microinverters, or power optimizers.

Your electricity consumption is the largest factor in determining the size of your solar system, and you can find out how many units (kilowatt-hours) your household consumes by looking at your monthly energy bill. Your installer will also provide a guide to help you determine your consumption level.

Demystifying Solar PV Panel Costs: What You Need to Know

Solar modules are not fixed and can be adjusted to catch more sun during different times of the day. You may also want to consider a variable-speed pump that can produce more energy when needed.

The choice of mounting structure will also impact your solar PV panel’s cost. There are three types of mounts: fixed, adjustable and trackers. Fixed mounts are less expensive but require maintenance, whereas adjustable and tracker systems can produce up to 30% more energy over the course of the year and are ideal for states with seasonal climates.

The cost of solar energy has dropped significantly over the past decade, making it a viable alternative to traditional electric sources in most parts of the U.S. In fact, according to a recent report from the National Renewable Energy Laboratory, PV is now one of the most affordable energy technologies available when considering all the values that it provides — including market revenues, health benefits, and carbon prices.

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