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How much do Solar Panels cost?

Average Price
$6,500 - $7,800

Solar Panels cost guide

Interested in getting solar panels but unsure of the cost? Read our handy guide to find out how much solar panels cost depending on your requirements.

How do Solar Panels work?

Solar panels are made from photovoltaic cells, which absorb light from the sun and turn it into electricity. They are placed on the roof, which gives the panels the best chance of the sunlight hitting them. 

Conducting wires carry the electrical current into the building. When it’s light outside and your electrical appliances are turned on, the solar panels will be able to generate electricity to power them. The panels will still work in cloudy conditions, so long as they are exposed to daylight. 

Not only is solar power more accessible than ever, but it’s also now much more affordable than it used to be. Whether you own or rent your property, solar energy can minimize your environmental impact as well as your energy bills. 

How much does Solar Panel Installation cost? 

The cost of solar panels depends on the solar PV system size you use and how many panels you choose to install. Most homeowners choose a 3kWp solar PV system size and install 12 panels. This comes in at an average cost of between $6,500-$7,800.

It is always worth checking whether you are eligible for any government schemes which would allow you to claim back the cost of installing solar panels. If so, this would reduce the cost either partially or entirely. 

Alternatively, if you calculate the cost versus your yearly energy bill, this will give you an idea of how long it would take to offset the cost. Keep in mind that your energy production will be at its best when it’s light outside for longer, as opposed to short daylight hours in winter.

Average cost of Solar Panel Installation
Solar PV system sizeHighest average price Lowest average price
1kWp$3,800$1,900
2kWp$6,500$3,800
3kWp$7,800$6,500
4kWp$10,000$7,700

Factors influencing costs

While installing solar panels will reduce both your carbon footprint and your energy bills, it’s a big commitment, so it’s important to have a clear understanding of what’s involved. Here are some key factors influencing costs: 

  • Roof suitability

  • Roof size

  • Solar PV system size

  • Installation

Your roof suitability

The majority of roofs are suitable for solar panels in terms of their construction. However, given solar panels need light to be able to generate electricity, they work best on south-facing roofs, or at the very least east or west-facing roofs. Unfortunately, north-facing roofs aren’t suitable for solar panels because they don’t receive enough light. 

It’s important to bear in mind other restrictions that could disrupt access to light, like large trees in the garden. The good news is that before an installation will even be considered, your solar panel provider will carry out a survey and advise if your roof is suitable or not. 

The more light your roof receives, the better value for money solar panels will be. 

Your roof size

If you have a particularly large roof, then this gives you even more opportunities to reduce your carbon footprint by installing more solar panels. Most homeowners opt for between 4 and 16 solar panels. The only downside is the more panels you install, the greater the cost will be. But, if your property is south facing then this will offset the costs much quicker, even with the maximum amount of panels installed. 

Solar PV system size

Solar panels run on a capacity that typically falls between 1kWp and 4kWp. The easiest way to figure out which would suit your property is to add 1kWp for every person who lives there. So, 1kWp is usually enough to offset the energy demands for a 1 person home, and 4kWp would be enough for a family of 4. 

The higher up the scale you go, the more panels you will need. However, higher capacity solar panels will also reduce your carbon footprint, especially for homes that consume a lot of energy.

Installation

The installation of your solar panels will be included in the quote which will be given to you by the solar panel company you select. While it is possible to purchase your solar panels, due to the potential dangers of installing them (working at height and with electricity), it’s not advisable to install them yourself. Plus, unless they are correctly installed they won’t be able to generate any electricity, which means you’d end up paying far more than the installation costs!

Recouping the cost through your energy bills

The beauty of solar panels is that the cost of them will eventually be recouped through the reduction in your energy bills. The exact time this will take depends on how much you are currently paying for your energy, as well as the cost of installation. 

The payback time will also be reduced if you are connected to a scheme that will pay you for the excess electricity your panels produce. 

To make even more savings, be sure to use your electrical appliances in daylight hours as much as possible, versus using them when it’s dark. That will cut your reliance on the grid, which will lower your energy bills. 

Getting Solar Panels Installed - is it worth the cost?

As a property owner, considering whether or not to get solar panels is a big decision. While they can be a costly upfront investment, they will usually pay for themselves over time. 

The main benefit of solar panels is that they are an eco-friendly solution to generating energy, and any excess electricity they generate can even earn you money too. 

Given they are simple to install and help reduce demand for fossil fuels, solar panels are certainly worth it if you want to use cleaner energy and lower your energy bills as a result. 

Harness the power of the sun and reduce your energy bills at the same time, when you find a professional solar panel installer with Bark.

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