What Size of Solar Panel Do I Need? What Will It Cost Me?

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Solar power is becoming increasingly more popular, and today’s solar panels are some of the most powerful ever seen. Solar energy has never been so cheap – with government rebates still available! Record-low prices on purchasing solar panels in Riverside make this an affordable option that will save you money in the long term as well.

One could also say: With such high-efficiency rates coupled with low cost; there’s no better time than now to invest in renewable resources like clean electric sources from sun cells which can provide electricity virtually free if not paid at all through tax incentives Installing a high-quality solar system is not only cost-effective, but it can also pay for itself in as little time as three to five years. This means that you’ll be saving tens of thousands over the course of your family’s lifetime using this eco-friendly energy source!

How much solar power will your house or company need? Continue reading if you want to figure out what size solar system is best for you.

Roughly Sizing Up a Solar System

It is simple to estimate the size of a solar system; solar energy might save you approximately $400 per kW each year, and a solar system will generate around four times its size on average.

For example, a 5-kW system will produce roughly 20 kWh each day and may help you save up to $500 every three-month power bill. This rule of thumb is adequate for many families to answer the question ‘how much solar do I need?’

Solar power is now an affordable, reliable and sustainable solution for many homes. With battery storage systems becoming more common in the market today as well as a range of new solar panel prices that can be tuned to meet your 24-hour usage needs – we’re starting to size up nearly all our installations with this information already taken into account, so you don’t have guesswork when it comes time for installation!

Sizing up a solar system in 2021

The current average solar system size is 8kW-10kW, equivalent to covering the roof with solar panels where roof space is a constraint. The following are the most frequent reasons for this:

  • Quality solar systems are now far less expensive than they were previously.
  • Feed-in tariffs are more viable than ever before, to the point that it makes good financial sense to oversize your solar system to decrease your energy bill. Many of our clients have a credit on their power bill each quarter thanks to their sizeable solar system (Because they are not receiving money from their energy provider instead of a power bill, many people believe that they are saving money).
  • The government rebates for solar power is still available, and the larger the system, the greater the refund. The ACCC has been urging the government to get rid of rebates as soon as possible, and there is a good chance that this will happen.
  • The cost of property is rising at such a quick pace that it’s becoming a no-brainer to use equity to pay for your power in the years ahead, as well as add value to your property.
  • Batteries have revolutionized the industry. Whether you buy one now or later, it’s a good idea to get your solar system installed directly with the hope that you’ll store solar energy in a battery at some time. To put it another way, if you build a 500 kW solar system but use only 200 kW of power per day, your feed-in tariff will be significantly lower than if you had built a 1 MW solar system and used all of its capacity.

How Many Solar Panels Do I Need?

Once you’ve figured out how much solar power your home will require on an average day, you may calculate how many panels you’ll need to produce that amount of energy. Solar panels are presently rated at 300W per panel, while high-efficiency panels are closer to 340W to 370W.

High-efficiency modules are more costly per panel in general, but because you need fewer panels for the same amount of light, it’s generally advised that you choose a panel like the LG NeON 2 355W.

If you’re still not sure what to do, take a look at the options offered above. For example, if you want a 5kW solar system for your home, you may install 17 x 300W panels, 15 x 345W panels, or 14 x 370W modules.

Average Solar Panel Cost

Your home’s size and energy usage will largely influence which solar panel system is appropriate for you.

Solar panels generally cost about $4,633 to install. The actual range is more like $2,909 and $5,810, with solar panel systems ranging from 1.5 kWh to 6 kWh incapacity. The cost of your system is determined in part by the quality of its components, such as the solar panel and inverter manufacturers.

How much does it cost to install solar panels?

The cost of putting in a solar panel system is included in the price for most solar companies.

If a firm is offering the price of a 6.6kWh solar panel system as $5,899, this includes installation after the rebate.

A scammer who claims he’ll charge you extra to put up the system is likely a liar.

You are not eligible to receive a rebate for installing a solar panel system since a certified installer must carry out the installation.

How much do solar panels in Australia cost?

The different rebate amounts paid by each Australian state is why solar panel pricing varies depending on where you reside. Solar panels that generate the same amount of power in one state may need to be more prominent in another, depending on your local solar PV legislation.

The cost of installing solar PV in Australia by the state is listed in the table below.

State1.5 kW2kW3 kW4 kW5 kW6 kW
Western Australia$2,450$2,710$3,010$3,540$3,650$4,210
Victoria$3,215$3,478$3,984$4,599$5,440$6,650
South Australia$2,792$3,150$3,650$4,185$4,722$5,320
Queensland$3,280$3,620$3,860$4,650$4,980$5,638
New South Wales$2,950$3,230$3,690$4,055$4,450$5,166
Avg. of All combined$2,909$3,211$3,655$4,201$4,633$5,466
Aust. Capital Territory$2,770$3,080$3,740$4,180$4,560$5,810

Cost of solar electricity per kWh

The country’s generous government incentives are primarily responsible for the low cost per kWh of installing solar panel systems in Australia. The cost of a 5kWh solar system with an average price of $5,200 per kWh installed is $1,040 per kilowatt.

Moreover, the expense of putting in a solar system may be as little as $910 per kWh, with several suppliers providing systems at meager costs.

The cost per watt of solar panels

The cost of solar panels to install per Watt is determined by the system’s size and the local government incentives.

Solar panels in Australia are around $1.04 AUD per Watt, according to the typical price of a 5kWh solar system. Compared to USD 3.40 paid in the United States, it’s simple to see how much of a bargain you’re getting.

Formula: $5,200 divided by 5,000 Watts = $1.04

When you buy more extensive systems, the per Watt cost comes down. It’s similar to buying in bulk and saving money. The cost of labour to install 20 panels is about the same as that for 15, so you’re just paying extra for the panels.

The cost of a 10kWh solar system per Watt is $0.92 AUD.

How long will it take for solar panels to pay for themselves?

It will take you around four years before the system has generated enough value in electricity production to cover its own cost.

For small systems and households that use less electricity, the payback period or ROI for your solar system may be longer.

Do you save money with solar panels?

Given that solar systems typically pay for themselves in three and a half years and come with a 25-year warranty, it’s reasonable to expect that they’ll save you money in the long run. You will find it simpler to handle the initial expenditure if you consider it an investment.

Not to mention that there is interest-free credit available. It’s like paying off your “normal” bill in four years but ending up with the property!

Is solar getting cheaper, and should I wait?

Solar is becoming more affordable each year due to the significant increase in Chinese manufacturing and market over-consumption. Installers have struggled to keep up with demand because of the two programs and Australia’s Small-scale Renewable Energy Scheme (SRES), which has encouraged them.

Should you wait? Not really. There’s no reason why you shouldn’t install a solar system now, taking advantage of the far lower cost of energy production, given the growing cost of electricity in Australia and the interest-free finance available, particularly for solar installations.

Conclusion 

The size of solar panels and the cost will depend on your needs, but it’s always best to go with a too-large system than one that’s too small. Your energy company may also offer incentives for purchasing larger systems. However, if you need help determining what size of panels you should buy, we can help! Our team has been installing quality solar power installations, and we know all about this process. Whether you’re looking for residential or commercial renewable energy solutions in Australia, give us a call today and let our experts guide you through your options and advise on installation costs as well as rebates available from the citizens.