Solar panel systems have come into focus in the past decade. The subsidy offered for the installation of rooftop residential solar panels has encouraged the common man to take a step towards renewable energy. However, one challenge that we all face is the lack of funds.

Installing a solar panel is not a menial chore. The cost of a solar panel can vary a lot, but almost all of them are more expensive than you expect. In this article, we’ve dissected solar panels with inverter and battery prices and the current trends in solar panel prices.

Why are solar panels expensive?

1. Silicon purity

Solar panels of all shapes, sizes, and brands can be manufactured using silicon. While silicon is available in abundance, making solar panels requires silicon of the highest purity. Therefore, manufacturers have to first purify the silicon through extensive processes. These processes yield a low quantity of pure silicon. Larger solar panels require more silicon, and the prices of solar panels increase.

2. Manufacturing process

While solar panels have been used for several decades, the manufacturing process requires brands to individually build each solar panel. Ergo, the process is not optimized. This takes time, energy, and labour which increases the price of the solar panel.

3. Inverters and batteries

Most manufacturers recommend installing inverter battery for home with your solar system. These need to be tested and optimized. You can’t connect any random inverter with your solar panel. The manufacturer needs to research and make a list of products compatible before recommending it to you. This trial and error lead to higher prices.

4. Permits

Manufacturing and installing a solar panel in any home, commercial shop or office requires a permit. The lengthy process to get this permit is often completed by the manufacturer. They need permits to start manufacturing, selling the product and installing it in your home. The higher the number of permits, the higher the price of solar panels, inverters and batteries.

5. Marketing

Marketing is the most crucial aspect for solar companies. While people in India are aware of these products, very few know about the local brands and start-ups.Peoples are in india is now searching solar system for home with battery. Therefore, solar manufacturers and brands have to invest as much as 30% of their budget in marketing. Therefore, their profit margin increases, which increases the price of the product.

These are the top five reasons why the prices of solar panels have increased over the past decade. Other factors include increased competition and newly developed technology. Let’s analyse the price of solar panels, inverters and batteries individually to get a better idea.

Prices of Solar Panels

Let’s analyse the prices of 75 Watt / 12 V Solar Panels.

Why is there a price difference?

The price difference in the solar panels is due to the technology used. In India, two types of solar panels are sold: monocrystalline and polycrystalline solar panels.

The efficiency of monocrystalline solar panels ranges from 13-16%. Therefore, the price per watt of these panels is between ₹38-₹40. The efficiency of polycrystalline solar panels ranges from 19-24%. Therefore, the price per watt of these solar panels is between ₹50-₹60.

These two types of solar panels utilize completely different technology and have different manufacturing processes. Therefore, to get highly efficient solar panels, manufacturers spend more money and this results in higher solar panel prices.

Prices of Inverters

Let’s analyse the prices of a 12V inverter

Why is there a price difference?

The price difference in inverters is due to the capacity of each inverter, the brand the manufactures it and the type of solar system you have. Solar inverters are responsible for converting the electricity generated by the solar panel into usable energy. The price of this product depends entirely on how much electricity your household uses every day and which solar panel system you have installed in your home.

Prices of Solar Batteries

Why is there a price difference?

The price difference in batteries is due to the features of the battery. A 6AH battery costs approximately ₹1,900. This battery has enough charge to power just the basic electric items or e-bikes. On the other hand, a 150AH battery costs approximately ₹6,800. This battery has enough charge to power all household appliances including refrigerators, LED TVs, tube lights, etc. at the same time.

Therefore, batteries with higher capacities have higher prices. The battery is therefore choose based on the requirement of your home.

To get a solar system installed in your home, you have to individually select each of these three components. The final price of your solar panel system depends on which sizes, models and brands of these components you install. This might discourage many people from buying a solar system. But you have the advantage.

What benefit do you get from this?

There are three main benefits of installing a solar panel system:

1. The warranty

All components in a solar system come with an extensive warranty. The solar panel has a 20 to 25-year warranty. The inverter and solar battery each have a minimum of 3-year and a maximum of a 5-year warranty. This means you have to buy a solar panel only once in your life.

2. Revenue

Solar panel systems are more than capable of paying for themselves. The additional charge generated by your solar panel can be redirected to the city’s grid. This will help you generate revenue from your solar panel.

3. Independence

You will no longer need to worry if the city’s power grid is working or not. Even if your neighborhood gets frequent power cuts, you can depend on your solar battery. This ensures you don’t have to worry about anything or anyone. You can also check out Loom Solar store for such products.

Installing a solar panel system has more benefits than disadvantages. With a trusted manufacturer, you can get started on saving money now!