Solar Panel Installation & ROI: The evolution of solar energy started during the year 1954. Daryl Chapin, Calvin Fuller, and Gerald Pearson began developing the Silicon Photovoltaic Cells. These cells were considered the first solar cell which can be used to convert solar energy into power on an everyday basis for all electrical requirements. As time passes, there are now several advancements in technology fields that have enabled us to acquire more solar energy than before. This energy can be used further for our homes and our commercial buildings in a more efficient and effective manner than earlier.
Cost of Solar Energy
To make it very precise, the overall cost of a typical rooftop solar panel system for a building may range between $3,000 and $12,000. This price range depends on certain factors: your location where you live, the size of the system you want to install, discounts and incentives provided by the state governments. STCs provided by the federal government to the customers are basically meant to offer a significant discount to the customers who want to purchase a system. If you wish to install a larger system, then the cost of the system will be higher but at the same time, the price per watt will be less.
Factors Affecting the Cost of Solar Installation
There is no doubt that there are several factors that affect the cost of solar installation in different ways, especially if we talk about the initial cost of the system.
- The Demand for Installations: Basically the average cost of installation fluctuates largely due to the supply and demand of the system in the solar market. It might be possible that some areas are not up to the mark or designed in such a way that the system can be installed easily. So in such cases, the cost will be eventually higher as the installers have to do a lot of effort to install your system properly. Then the other factor can be the time of the year as, during the beginning of autumn and spring season, the demand for the system is very less, so this will lead to a fall in the cost of the solar system.
- Quality of the Solar Panels: Customers often think that every single panel is of the same quality. But in reality, it’s not true at all, the composition of each panel may vary and work more efficiently than the other. So if get the previous point, now you may have understood that the materials used for manufacturing the panels can also affect the cost of the panels depending on their efficiency level. So it is always good to go for the quality and not for the cheaper solar panels as it may cost you a bit but will help you to save more and be in the long run.
- Flat Roof: In order to get maximum output from your solar panels, the panels should be arranged in such a way towards the sunlight so that they can absorb more. If your roof is flat, then there is an option to add mounts or tilt to your roof as it will provide the correct direction for the panels.
- Condition of the Roof: The condition of your roof is very important as if your roof is not fine enough to install panels then the installers will charge you some extra amount to work on it for installation. Generally, it happens with the old roof as they might become delicate with time and installers need to be careful while working on it.
ROI and Savings
- Usually, solar energy systems come along with a warranty period of 10 to 15 years. This period is good enough for a system to pay for itself in a long run. Once the warranty period gets over, each kWh of the generated electricity will provide the full profit.
- There is no doubt on the fact that solar systems are a bit expensive to install and can be considered a big investment in the long run. But in most cases, it can generate savings eventually later on. How much time it takes to provide the benefit of saving depends on certain factors like total electricity usage, size of the panels, quality of the solar panels and the weather conditions.
- The return on investment largely depends on the feed-in tariff that you receive. Feed-in tariffs are basically subsidies that you get for each kW of the excess electricity that you export to the energy grid. For your information, if you live in a rural area or you have a system installed before the year 2013 then also you are eligible enough to get the premium tariff benefits.
Future Solar WA is known as Australia’s one of the best solar system providers. We offer the best range of solar systems by some of the well-known manufacturing brands all around the world. If you want to know more about solar panel installation then get in touch with us now and we will be there at your service.