How Much Do Solar Panels Cost?
The price of a new solar power system will depend on the size of the system, in other words, the power output or kW of the system.
Over the past five or so years since I created this website the average price of a solar system has dropped significantly, just a few years ago a 1.5kW system could have set you back close to $9,000 with much less efficient panels compared to today's standards. An excellent reference to solar price trends can be found here www.apvi.org.au
Government solar rebates are still available; The solar rebate varies depending on the value of things called STCs. With the current price of STC's (as of March 2016), you are looking at a saving of roughly $700 per kW of solar installed.
For a typical 3kW solar power system:
- An average 3kW system fully installed $7,100
- Government Rebate: $2,100
- Total cost for 3kW of solar power $5,000
Is a 3kW solar power system the right size for you? This is not always a simple and easy question to answer; many variables can come into play when choosing the right size system. An excellent article that explains this in more detail can be found here - How Is Solar Energy Used in Your Home?
Costs of Larger Solar Systems After the Rebate
Depending on the quality of the solar components used in a system the price can very greatly, however don't allow yourself to be fooled by the false economy of cheaper solar components. High quality solar panels and inverters should provide years of efficient trouble free service, cheaper components can and will break down costing you more in the long run.
As of July 2016 the cost of a good quality solar power system with Tier 1 solar panels installed:
- 3kW : $3,999 - $5,999
- 5kW : $5,999 - $8,999
- 10kW: $11,999 - $15,999
For a good micro inverter system add about 21% to the above prices.
The prices above to the solar illiterate may seem expensive, this is why its important to get a little more involved, educated and fully understand the ins and outs of solar specifically payback and cash-flows, then you can make a well informed decision on buying a system.
If you want more information on system pricing and payback times I recommend using the Solar Calculator on the SolarQuotes.com.au website, you will find the link to the Calculator at the bottom of the page.