 Solar Panel System Price
The cost of Solar Panel System varies considerably between Solar Installers & Companies. So it really does pay to shop around!
The big issue is a solar panel system should last you around 25 years so making a bad decision can live with you for 20+ years.
(Basically if it sounds cheap then chances are it is cheap. Made from cheap or dodgy materials and may not last the expected 20 years you should get out of a solar panel system or manufacture may not exist when you want to get it fixed.
1,5kW Solar Panel System:
The based on available space and government rebates the most common solar system purchased by homeowners in Australia is a 1.5kW solar panel system. The real cost of 1.5kW solar panel system of this size is around $9,000 to $13,000, however most companies advertise or quote the systems price with the Solar Credit Scheme discount already taken off.
Depending on where you live the Solar Credit Scheme reduces the price of your system by about $5,200 and $7,000.
So the actual cost you will pay for a solar panel system is around - $3,000 - $6,000.
Solar System Return On Investment
You may think this still sounds like a lot of money to invest in a 1.5kW solar panel system however a 1.5kw system will;
 Immediately Save You - Between $5200 to $7200 from Solar Credit Scheme and also provide
Ongoing Savings Of - Of around $500+ for the next 20-25 years or
#1300 for NSW & ACT residents due to the value of their Feed In Tariffs FIT- for next 7 years & then $500+ thereafter
Some solar installation companies offer low or interest free loans or alternatively some banks and credits unions offer low interest rates on green loan for installing renewable energy.
You can easily pay off your system by using green loans or installers payment plans which means your savings on electricity may directlty pay off your solar panel installation.
Electricity Savings = Loan Repayments = Investment Pay Back In:
NSW & ACT of 3 years or less
Other States around 8 years or less
Why Are There Such BIG Difference In Price?
There are a number of factors that can effect the price a solar panel system for your home including:
Type of Panels & Inverters used (some our more efficient than others)
Quality of Panels & Inverters (Durability, warranty, efficiency over time)
Brand or Manufacturer of the Panels & Inverter
Length of Warranty on Installation - ( can vary between 1 - 5 years )
Length of Warranty on Panels - ( can vary between 10 - 25 years )
Length of Warranty on Inverters - ( can very between 5 - 10 years )
Volume discount the installer has been able to attract from manufacturers
Obviously the best advice is to shop around and obtain 2- 3 quotes from solar installers to ensure you have a range of prices and options to find a system that will work best for you.
Advertised Price Vs Actual Price
There are no real one price fits all in relation to a solar panel system. Every home and property will have different needs and requirements which will have an impact on the cost of the solar system installed.
Generally the price you see advertised is a basic price for a very standard installation and generally your home will incur additional costs above the advertised price.
Additional Installation Costs:
Factors that may effect the cost of your solar panel system include:
Tiled Roofs - from $300 - $500
Flat Roofs - from $300 - $500
Double Story Buildings - from $300 - $500
Feed in Meter - from $0 - $400+ depending on your electricity service provider (most currently are free)
Meter Moving - from $500
(approximates cost only and in some case may have been already included in the advertised price)
Other Costs:
There are other costs you should probably also consider when calculating your overall return on your investment
Repairs - outside of warranty periods
Home Insurance - may need to be increased to cover extra $10,000+ investment
Replacement of Inverter $500-700 due to an approximate life spand of about 10 years
Maintenance on system - only requires a wipe over clean a couple times a year (possibly do yourself) but if you require a solar installer to do may cost a lot.
Recommendations:
We always recommend you get 2-3 quotes to ensure you get the best price and the best advice for your solar installation needs. To find an installer local to you.
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