What would it cost to set up a solar power system at home?
The price of installing solar panels varies depending on the region, style of rooftop, and kind of panels utilized. Although more expensive up front, premium solar panels with high efficiency and beneficial warranties provide more potential for long-term savings such as reduced cost of electricity bills, carbon footprint, and annual energy expenditure.
The rupee per kilo watt hour (e.g. Rs. 7/kWh) unit is the most effective way to calculate the cost of a solar panel installation. This statistic aids in standardizing the cost of solar power plant, similar to the cost per square footage when purchasing a home. To ensure that customers receive the best possible value, with this article, we help you get a directional sense of what it might cost to install a solar power plant - starting with the main component - solar panels
Types of Panels
Monocrystalline panels and Polycrystalline panels are the two types of silicon-based panels that are currently widely deployed globally. In addition to silicon wafer panels, there are thin film panels and chemical compound-based panels, both of which have not yet developed to the point of being economically feasible on a large scale.
Costs of solar panels
Depending on the style and model, solar panels typically cost between Rs. 40,000 and Rs. 65,000. While solar panels might reduce your energy expenditures, it's crucial to understand the full beginning costs so you can create a budget.
In a typical Indian home, a 1 KW solar panel can supply electricity for up to 4 hours to a 2 or 3-BHK flat with three fans, one refrigerator, one TV, one computer or laptop, and four to five lights. A solar energy system is more practical in locations with regular power outages since it gets its energy straight from the sun.
Average Cost of 1kW Solar Panels
A 1KW Solar Panel Price in India can be approximately Rs 45,000 - Rs 65,000 depending upon size of the plant, panel quality, installers, etc.
Depending on the type of solar panel, the average cost to install a solar panel is around ₹25-60 per watt. The following quotation may be summed up as follows:
The cost estimation does not include any additional charges or hidden charges
The 1KW solar inverter average price in India is given below
| Product | Price |
|---|---|
| Solar Panel, Shark 440 - Mono Perc | ₹ 32,000 |
| Lithium Battery - 2000 watt-hour (1) | ₹ 25,000 |
| Microtek 2335 VA Solar Inverter | ₹ 9,999 |
| Solar 2 Panel Stand (Shark 440W) | ₹ 4,000 |
| Solar DC Cable, 6 sq mm, 15 Meters Pair | ₹ 2,500 |
| 2 Panel MC4 Connectors Pair, 2 Wire In, 1 Wire Out | ₹ 500 |
Types of Solar Power System Connection for Domestic
For homeowners, there are three kinds of solar system connections available to install.
-
Off-Grid Solar System
-
On-Grid Solar System
-
Hybrid Solar System
The cost of grid-connected PV systems ranges from Rs 50,000 to 75,000 per kWp and the cost varies according to the inverter and type of panel chosen.
The cost of off-grid solar PV systems is approximately Rs 1,00,000 as these PV systems require batteries which are costly.
Average Cost of Solar Panel Installation in India
| System Size | On-Grid (Rs.60/cpw) | Off-Grid (Rs.80/cpw) | Hybrid (Rs.90/cpw) |
|---|---|---|---|
| 1kW | ₹60,000 | ₹80,000 | ₹90,000 |
| 2kW | ₹1,20,000 | ₹1,60,000 | ₹1,80,000 |
| 3kW | ₹1,80,000 | ₹2,40,000 | ₹2,70,000 |
| 4kW | ₹2,40,000 | ₹3,20,000 | ₹3,60,000 |
| 5kW | ₹3,00,000 | ₹4,00,000 | ₹4,50,000 |
| 6kW | ₹3,60,000 | ₹4,80,000 | ₹5,40,000 |
| 7kW | ₹4,20,000 | ₹5,60,000 | ₹6,30,000 |
| 8kW | ₹4,80,000 | ₹6,40,000 | ₹7,20,000 |
| 9kW | ₹5,40,000 | ₹7,20,000 | ₹8,10,000 |
| 10kW | ₹6,00,000 | ₹8,00,000 | ₹9,00,000 |
What expenses are there in addition to what determines the price of installing solar panels?
Not everyone will have to pay the same amount to install solar panels on their roof. An overview of the elements influencing solar installation prices is provided below:
-
Project capacity
-
Value-added service
-
Locality
-
Length of cables used
-
Type of solar panel and inverter you buy
-
The type of mounting structures used
-
The size of the mounting structures
-
Height of the building
Solar power systems are a wise investment. The return on investment (also known as the solar payback time) will rely on a few important aspects like the size of your system, how much power you use, and your financing options.
VaySolar analyses your profile of power usage in order to provide a plant size that best meets your requirements and offers the most return on investment.
References
- https://www.waaree.com/blog/1-kw-solar-panel-price-in-india
- https://www.waaree.com/blog/1-kw-solar-panel-price-in-india
- https://www.solarsquare.in/blog/solar-panel-installation-cost/
- https://www.solarsquare.in/blog/solar-panel-installation-cost/
- https://www.loomsolar.com/
- https://www.loomsolar.com/