Solar panel price: What you need to know before investing

As the demand for renewable energy sources continues to grow, understanding the solar panel price has become essential for homeowners and businesses considering a switch to solar power. The cost of solar panels can vary significantly based on several factors, including the type of panels, installation costs, and available incentives. This comprehensive guide will explore everything you need to know about solar panel prices, helping you make an informed decision about your solar energy investment.

What determines solar panel price?

The type of solar panels you choose is one of the most significant factors affecting the solar panel price. Different types of panels offer varying levels of efficiency, durability, and cost.

Monocrystalline panels are made from a single, pure silicon crystal, which makes them the most efficient type of solar panel. They are known for their sleek, black appearance and high efficiency rates, typically ranging from 20% to 22%. However, this efficiency comes at a cost.

• Price: Monocrystalline panels generally cost between €1,00 and €1,50 per watt. For a standard 6kW system, this could translate to €5.000 to €8.000 just for the panels themselves.
• Efficiency: The higher efficiency of monocrystalline panels means they are ideal for homes with limited roof space, as they can generate more electricity per square foot compared to other types.

Polycrystalline panels are made from multiple silicon crystals, which makes them less efficient than monocrystalline panels but more affordable. These panels have a characteristic blue hue and are a popular choice for residential installations. 

• Price: Polycrystalline panels typically range from €0,80 to €1,00 per watt. For a 6kW system, the cost would be between €4.800 and €6.500. 
• Efficiency: With efficiency rates between 15% and 18%, polycrystalline panels require more space to generate the same amount of electricity as monocrystalline panels. 

Thin-film panels are made by depositing photovoltaic material onto a substrate. These panels are flexible and lightweight, making them suitable for a variety of applications, including non-traditional installations like curved surfaces or portable systems. 

• Price: Thin-film panels are the most affordable, typically costing between €0,60 and €0,90 per watt. A 6kW system would cost between €3.700 and €5.400. 
• Efficiency: With efficiency rates between 10% and 12%, thin-film panels are less efficient and require more space, but their flexibility and lower cost make them appealing for certain uses.

Installation costs and their impact on solar panel price

Installation costs are another significant component of the overall solar panel price. These costs can vary based on several factors, including the complexity of the installation, your location, and the installer’s rates. We will not address this cost as you can avoid it with Robinsun plug & play solar kits. Our kits are self-installable. Check the video below on how easy it is to install. 

How System Size Affects Solar Panel Price

The size of your solar panel system directly impacts the overall solar panel price. Larger systems, designed to produce more electricity, will naturally cost more due to the increased number of panels and additional materials required.

To estimate the cost of a solar panel system, you can use the average price per watt as a baseline. For example, if the average price per watt is €1,20, and you need a 6kW system, the cost for the panels alone would be:

• €1,20 per watt x 6,000 watts = €7.200

Keep in mind that this calculation only includes the cost of the panels and does not account for installation, permits, or additional components like inverters.

The brand of solar panels you choose can also significantly affect the solar panel price. Higher-quality panels from reputable brands may come with a higher price tag, but they often offer better performance, longer warranties, and greater reliability.

Popular Solar Panel Brands and Their Prices

SunPower: Known for producing some of the most efficient and durable panels on the market, SunPower panels are at the higher end of the price spectrum, typically costing between €1,35 and €1,80 per watt.

LG: Another premium brand, LG panels are known for their high efficiency and reliability, with prices ranging from €1,26 to €1,62 per watt.

AIKO: A rising name in the solar industry, AIKO panels are known for their advanced technology and balanced performance. They offer a competitive price range, typically costing between €1,10 and €1,50 per watt. We include AIKO solar panels in our Robinsun solar kits. It focuses on panel manufacturing and is now the market leader. Check more information from our blog about AIKO’s new product release.

Government Incentives and Their Impact on Solar Panel Price

Government incentives can significantly reduce the overall solar panel price, making solar energy more accessible to a wider range of consumers. These incentives can come in the form of grants, rebates, or feed-in tariffs, depending on your country.

In Europe, many countries offer substantial incentives for solar energy adoption. The European Union also supports renewable energy initiatives through various programs.

For example, in Germany, homeowners can benefit from the EEG (Renewable Energy Sources Act) which includes feed-in tariffs that guarantee a fixed payment for electricity generated from solar panels. For a €20.000 solar panel system, subsidies and feed-in tariffs could significantly reduce the net cost, depending on the country and specific incentives available.

Typical Solar Panel Prices: What to Expect

As of 2024, the typical solar panel price for a residential system in Europe ranges between €13.500 and €27.000 before incentives. Here’s a breakdown based on the type of panels:

• Monocrystalline Panels: €5.000 to €8.000 for a 6kW system
• Polycrystalline Panels: €4.800 to €6.500 for a 6kW system
• Thin-Film Panels: €3.700 to €5.400 for a 6kW system

Solar panel prices can also vary depending on your country due to differences in labor costs, permitting fees, and national incentives. For example, solar installations in Germany may be more expensive than in other European countries due to higher labor costs, but these can be offset by generous feed-in tariffs and other incentives.

Conclusion

Understanding the solar panel price is crucial when considering an investment in solar energy. By exploring the different factors that influence costs, such as panel type, installation, system size, brand, and available incentives, you can make an informed decision that best suits your energy needs and budget.

While the upfront cost of solar panels may seem significant, the long-term benefits, including reduced energy bills and environmental impact, make it a worthwhile investment. If you’re ready to explore your solar options, start by researching different types of panels and their costs, and consult with local installers to get accurate quotes for your specific needs.

Contact us via email, WhatsApp or call us directly if you have any questions or need help to choose your own Robinsun plugin solar kit.