Solar panel price for a home varies as per the energy needs, but it is costly on any count – even for the mini solar panels. Let’s understand why.
Indeed, all of us have this hidden desire to reduce our electricity expenses, save some money. We think about many ways around this quest – try to switch off devices soon after we finish our work. Buy the electronics that consume less power. Provide regular reminders to ourselves and our family members to switch off the lights.
Saving electricity is indeed challenging. That’s how you and I are getting attracted to solar energy. Now to switch our homes to solar-powered households, we need to install solar panels in our home. But is it an easy task? And does it need a fortune of an investment?
Yes, and yes. A well-known fact is that solar energy is the ideal substitute for electricity. It supports the running of many appliances and reduces our dependence on power. At the same time, this miracle of science and technology is costly. Even the small solar panel price may seem steep. Let’s understand.
The unit price of electrical power may get a rise in the future. An increase in cost means you may have to pay more money. You will be not having any other option than paying that price. Since there is no alternative is available in your home to produce power on your own. So, switch to solar power now only. It can easily fulfil all your power needs now and in the future as well.
In India, the solar panel price for home costs Rs.1,00,000 onwards at present and have a warranty of 25 years. So, buy the solar panels that best suits your needs and relax forever.
Long-time investment- pay today, save for years
High returns
Cutting edge technology
Setup cost- the entire grid is yours – hardware, labour and equipment
Picked for you: The Best types of Solar panels for home use
Many things affect the price of solar panels — for instance, long-term investment, high returns, total setup cost, and cutting edge technology.
Long-term investment
Investing in solar panels is like a long-term investment plan. You see, solar power is the pay today and saves for years concept. Solar is a constant and endless energy source. It is most abundant in nature, unlike the fossil energy sources. And you know it is available free of cost to use. Once the solar panel system is in place, we can continue to use it for life long.
High Returns
Today, you may think that installing solar panels will only reduce your electricity bills. But that’s not all. In case your power usage is less, then you may ignore the worth of solar power. But, in case your power usage is high, then powering your home with solar is the best option for you.
Let’s consider your power usage per month is about 350 units. Your local power supplier charges Rs. 5 per unit. Every month you pay around Rs. 1750 to that supplier. Now, look at the long-term point of view. In the next ten years, considering the same rate, you will pay Rs. 2,10,000. That will be a huge amount even if we ignore the change in the value of money. Instead, explore the best solar panels for home use in the market and buy one as per your needs. If you install a solar panel’s worth Rs. 1,00,000 right now then you may be able to save up to Rs. 1,00,000 in next 10 years. It will be more useful in case you buy more solar-powered devices such as geysers, water pumps, and even vehicles.
On top of that, the installation of the solar panels also increases your home’s value. It is seen that the homes powered by solar energy sell much faster as compared to the homes without solar power.
Cutting edge technology
Well, solar cells are a wonder of technology; that too a sophisticated one. The core of solar panels lies in PV cells, which generates electrical power. The PV cells are usually made up of semiconducting materials, for example, silicon. These cells absorb the sunlight and create a flow of electrons that finally results in electricity generation. A single solar panel consists of around 60 PV cells. Even though each cell is not able to produce a large amount of electricity, but their combined output surely fulfils all your needs.
The technology involved in this process is highly advanced and a bit costly also. Besides, energy conservation is eco-friendly and does not produce any kind of pollution or waste by-products.
Total setup cost
The solar panel price comprises of both hardware and installation. The PV cells, inverters, and other materials, including cables, fall under the hardware. Further, costs related to permitting, inspection, and labour come under the installation. In a solar panel, PV cells are the most important part and hold about 55% of the entire panel costs. The quality, durability, warranty, efficiency, and other aspects determine the cost of these solar PV cells.
Further, you need a permit from the local authorities in the case of on-the-grid solar panels. The local authority’s officers visit the site, check, and verifies that you meet all the rules. All these processes draw high fees. In between, the installation needs expertise labour, which is a little bit costly.
Installing solar panels on your roof may seem a bit costly at present. But, it will surely yield fruitful results over a period of 15 to 20 years. So, without thinking much invest in solar panels and let your Next-Gen enjoy the benefits.