Most Australians are aware of the cost-saving and environmental benefits of solar panels. However, solar systems or solar and battery packages still require a significant upfront investment in order to reap those benefits.
Prices have continued to lower with each passing year but there are many factors affecting the overall solar panel and battery cost.
On both Federal and State levels, Australia offers incentives designed to ease the transition into renewable energy, particularly solar. Under the Small-scale Renewable Energy Scheme (SRES), households that install eligible systems can receive Small-scale Technology Certificates (STCs) to reduce the initial cost of your solar system.
The credit is determined by the postcode in which the system is located, potential energy generation, and the current value of the STC itself. As STCs were conceived as a temporary measure, their worth decreases each year. For the maximum benefit, qualifying systems must be installed before the beginning of the next calendar year (Jan 1st).
Number of Panels
The type and the number of panels included in your solar system will be reflected in the cost. Opting for larger systems, with more panels, will cost more than a smaller system. Depending on the wattage of each panel, a solar system for an average home could consist of between 15 – 20 photovoltaic panels (PV). Larger residential systems, perfect for homes with substantial energy usage, could require between 30-35 panels.
Type of Battery
Solar batteries are becoming increasingly popular, even as electricity prices continue to rise. Solar storage solutions complement home solar panels, providing electricity usage at night or during low-light days.
While production is getting more efficient and affordable, solar batteries haven’t yet seen a price reduction similar to solar panels. The type of chosen storage option can further increase the solar panel and battery cost.
The three main types of residential solar batteries are:
- Lead Acid
While the above list is ordered by increasing solar panel battery cost, they each offer unique benefits to suit a wide range of homes and solar systems.
Solar Panel Efficiency
While solar panels and batteries have an array of specifications that homeowners can dive into, one of the most important for cost is efficiency. The efficiency of a solar panel refers to how much electricity in watts a solar panel can output, compared to its area. The higher the efficiency, the more energy can be generated over a certain period of time.
This does present a tradeoff. Panels with higher efficiency will generally come with a higher price tag but are more economical with space and energy generation.
It may be no surprise but the condition and accessibility of your roof are important factors when it comes to the overall price. Your roof has to be in the proper condition in order to support the weight of the panels and any additional structures. Rooftop repairs can further add to the cost of your solar system.
On top of this, the angle of your roof may require brackets or supporting frameworks in order to maximise solar collection through tilt and orientation.
While solar and battery packages can require a significant upfront investment, understanding what affects the price can be a great first step in choosing the best system for your household.
For more information on photovoltaic panels or solar panel battery costs, reach out to the experts at Solar System.