Why are solar panels so expensive?
Thinking of a green source of energy, that’s great. But while budgeting we come to know that solar panels are so expensive, much more expensive than we thought of.
In this article we’ll see the main reasons why are solar panels so expensive.
Reason #1
The main reason why Solar Panels or PV Panels cost so much because they make so little electricity. On average, a square meter space can generate around 200 watts, which means for the 1-kilowatt setup you’ll require around 5 square meters of open and sunny area with that much of solar panels. Since we install it on the roof area or on the terrace that space could easily be wasted unless you live in a costly area.
If space is your major issue, better invest in monocrystalline solar panels, they generate more electricity in less space, but again, it cost more than polycrystalline solar panels.
As of now, solar panels are not that much expensive. Numbers of go gree initiatives and healthy competition made solar panels affordable. In the coming days, it will be cheaper.
Reason #2
Solar Panels are affordable to most of us but other accessories are not. Solar setup will require a charge controller, an inverter, one or more inverter batteries, solar stand, stand for PV Panels, and DC wire for all sorts of connections. In all of that, if you’re on off-grid setup then much of cost will come from solar inverter batteries alone.
Although these are a one-time cost and PV Panels will run for more than 25 years without any issue, it is a long-run investment that will lead to free energy for many years to come.
These are 2 major reasons why are solar panels or PV panels are so expensive.
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You are right Atul. But when we think of the long term, they aren’t that expensive, but an investment for the future.
My home is backed by solar energy and rarely use grid energy. But now my power requirements have increased a lot, I’m thinking of increasing my solar capacity because I don’t want to pay monthly fees to my energy company.
Solar solutions are an investment, look like a lot at once. But in the coming years, it will make savings for you.
You are right Scott, thanks for sharing your experience.