7 Factors That Affect The Cost Of Solar Panels

Solar panels are pricey and there are a lot of factors that contribute to the cost of solar panels. Before purchasing one, it would be wise to know where your money is going. Solar panel installation is considered an investment. Therefore, you will be familiar with the value of your investment. Getting familiar with the 7 factors that affect the cost of solar panels can be helpful in making your final decision on getting that solar panel installed. 

What Influences The Cost Of Solar Panels?

Installation Types

There are several types of solar installation. The most common one is the one installed on the roof since this is the area where sunlight strikes the most. There are also what we call ground mounts, solar panels that can be mounted on the ground instead of the roof. There are even carport solar installations. The type of installation needs extra effort and structure to be able to be mounted properly, which simply means the additional cost will be added to your solar panel installation. 

Equipment Types 

Apart from the solar panel, equipment is attached to it to make it function. Inverters are one of the most important parts of solar panels. They come in many kinds and each has a function. For instance, string inverters are used to connect solar panels together while micro-inverters are mounted on each solar panel to avoid performance issues. Each also has a separate cost. The cost would depend on what inverters are needed on the solar panel needed for your property. 

Type of Roof

Since solar panels are usually mounted on the roof. Types of the roof are part of the factors to consider when installing your solar panel. In order to secure and keep your solar panels in place, equipment is needed, such as racking or flashing pieces. These structures are added to the cost of the solar panel system. 

Energy Consumption 

The aim of having solar panel installation is to be able to shift the energy usage of a home. To be able to do this, covering  100% of energy needs will be able to meet the goal. To do this, the number of solar panels should equate to the energy needs of the household. The more panels, the more expensive. Energy needs can be accurately measured by devices and solar providers can assist homeowners to determine the energy usage of their households. By doing so, they will know how many solar panels are needed for your home. 

Weather and Shading 

Sunny days are important for solar panels to collect the needed energy to generate for your home. Apart from that, any elements blocking the sun’s radiant, such as huge trees or tall buildings, should also be looked upon. The efficiency of the solar panel can be reduced if it cannot collect the energy it needs. So, checking the area for blockage is important, so remedies can be done even before the solar panel is installed. 

Interconnection Cost 

Some states require that you still have your solar system connected to the utility grid. To be able to do this, a representative of the utility grid is the only one allowed to connect it. This process will be an additional cost for you since you have to pay a certain fee to make it happen. 

Distance to the Interconnection Point 

To be able to record your energy excess or usage, your solar panel should be connected to the utility meter. Your property’s distance up to the utility meter is measured and the cost of the wire being used will be charged to you. This means this additional cost can be considered an additional cost to your overall solar panel installation. 

Getting familiar with the 7 factors that affect the cost of solar panels can help you prepare what is needed and think of an option on how you can finance your solar panel installation. It may cost you a lot, but it will be a good investment to make since you can get the benefit you want, which is reducing your electricity bills and many more. Get advice from your solar provider and start processing what’s needed to get that solar panel installed. Don’t think twice, instead think wisely.


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