Why Are Solar Panels Expensive

Solar panels and solar energy overall is a pricy investment even in light of recent cost reductions.

Why are solar panels expensive.

While the most expensive part of going solar is paying for the equipment it still only represents 25 percent of the overall expense. According to the solar energy industries association the median installed price for solar energy systems fell by as much as 70 in the 2010s. The most efficient solar panels tend to be the most expensive since they are the most difficult to produce. Comparing the costs and benefits of solar panels.

The cost of equipment is pretty much the same wherever you go. Solar pv panels the main component used in today s market to produce solar pv panels is silicon which is the second most available element in earth s surface. There s no doubt about it. Soft costs or the outlays that installers spend just trying to find you and appeal to you.

Data from solarreviews shows that although solar panels costs have now flatlined the cumulative fall in solar power system costs has significantly changed the cost benefit equation offered by installing solar panels on your home. Most of the time when someone asks us why solar panels cost so much they re working from a quote from a turnkey installer a company that offers an all in one solution to source the equipment and perform the installation. Cost of solar power in canada 2020. Let s figure out why installing them is so expensive by checking each of the components of the solar photovoltaic system starting with the panels.

Understanding the cost of a solar panel system. Solar panels are the most important part of a photovoltaic system because they transform solar energy into direct current dc electricity. Solar hardware components and their installation solar panels. However the cost of solar power changes depending on the size of the system required your eligibility for solar incentives the type of equipment used and even on the province that you live in.

Also consider that the number of solar panels needed increases for larger households driving up the cost of the project. The markup is in the installation. However like any investment the initial payment can be worth the payout later. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.