How Much It Cost to Install Solar Panel? This is a big question nowadays, a lot of people now getting known about what a solar panel is and its benefits.
The pace of recent developments has put the non-renewable sources of electricity to raise the red flag. Owing to this depletion, electricity is becoming expensive. Therefore, with each passing day and more people are getting interested in using renewable sources of energy for electricity generation. For instance, the use of solar energy to meet electricity needs is increasing tremendously. Also, the solar installation cost has made it a viable option.
Frequent power cuts, surges, and dependence on generators for continuous electricity are making people look for better sources. To the rescue, people are now using solar photovoltaic panels as an alternative. In order to fulfill the Jawaharlal Nehru National Solar Mission in the country, the Ministry of New and Renewable Energy (MNRE) is also promoting solar PV systems. The Government of India has issued subsidy to people buying solar panels under this scheme. This scheme has encouraged a lot of people to buy solar panels in India. Here is how much will it cost you.
- The cost of solar PV panel on e-commerce sites quotes anywhere between Rs 30 to Rs 50 per watt of power generated, depending on the quantity you are buying.
- The modules having lower watt power capacity cost comparatively more per Wp as compared to modules with higher watt power capacity. The efficiency of solar panels is also better for modules of higher Watt power as compared to modules of lower Watt power.
- The price between imported and Indian solar panels is negligible. However, if you are looking for a government subsidy, then you have is to go for made in India panels.
- If you are living in an area of stable electricity supply, and you want to reduce your electricity bills by installing solar panels, then the best way is to get a Grid Connected Solar PV System installed. It will cost you anywhere between 50,000-70,000 per kW. The cost varies based on the type of inverter and panels you choose.
- For areas that have an irregular power supply, frequent power cuts, then the best solution is Off Grid Solar PV System to deal with frequent power cuts. Off-Grid Solar PV system includes batteries, which is the most expensive part of the system. This would typically cost up to Rs 1 lakh. Also, these solar panels need replacement in a span of 4-7 years.
- The typical solar installer in Delhi gives efficiency between 13-19%. As this installation is a onetime process, the efficiency should be the primary parameter to consider. Lower efficiency panels will be less efficient and thus, you will need more panels to get the same amount of electricity produced. Ultimately, it will increase the rooftop area covered.
The aim of the solar panel is, to reduced energy bills and optimizes power generation.