Solar energy has become a highly preferred renewable energy choice for residential and commercial establishments since it’s sustainable and helps cut electricity expenses. With innovative technology, solar energy systems have evolved to help lessen upfront costs and make this renewable energy available to more people. Nonetheless, many consumers worry about its expenses.
In this article, you’ll learn how much building a solar energy system is in 2022.
A solar-only panel system transmits excess electricity to the grid. Consumers can earn credit for that excess electricity through a government-initiated program called ‘net metering.’
On the other hand, solar batteries enable you to store excess solar electricity rather than going to the grid. You can use the stored electricity when your solar panels can’t generate adequate electricity. Unlike a traditional utility or a solar-only energy system, a solar battery promotes an excellent backup source to power most appliances during a grid outage.
Solar batteries aren’t cheap. But for many consumers, the upfront costs of installing a solar battery pay off quickly by their savings on their energy bill. The current price range of solar batteries is between USD$8,500 to USD$10,000, excluding installation and additional equipment.
Property owners must consider their usage patterns and electricity rate to determine the suitable type of solar battery for them. Moreover, it’s crucial to choose a solar battery that’s compatible with the existing inverter. Check out this solar run battery review to learn more.
Solar panels harvest the sun’s heat energy to convert and generate electricity. They’re also called photovoltaics. The lifespan of solar panels can reach over 25 years, and they’ve become more reliable with innovation.
The price range of solar panels is between USD$3,500 and USD$35,000. So, that’s about USD$16,000 on average. The cost differs depending on the solar panel’s type and model. Solar panel types include the following: monocrystalline modules, passivated emitter and rear cell (PERC), thin films, and polycrystalline panels.
PERC panels have a high solar energy collection, perfect for small spaces. They’re more expensive but more efficient to manufacture than traditional panels because of the additional materials necessary.
Monocrystalline panels are expensive because of the inefficient manufacturing process involving silicon crystals. On the other hand, polycrystalline panels are made from crystal fragments. They have a simple manufacturing process, making them more affordable than monocrystalline modules.
When it comes to the highest solar energy efficiency, monocrystalline solar cells are the winner. They’re made from one silicon, unlike polycrystalline solar cells made from several silicon sources. So, polycrystalline modules are slightly less efficient. Thin-film solar panels are cheap. But they’re less efficient than monocrystalline and polycrystalline solar panels.
A solar inverter is an essential piece of equipment when building solar energy systems for homes and businesses. This device regulates electrical power flow, turning direct current to alternating current electricity. Power grids utilize alternating current electricity to supply electricity to consumers.
Aside from regulating electricity flow, solar inverters play a crucial role in the entire system’s monitoring. They serve as a communication portal for computer networks to ensure all equipment and devices are doing good. Furthermore, solar battery storage systems depend on inverters to run without grid support when a power outage strikes.
A medium-sized solar inverter installation costs around USD$1000 to USD$1500. The price also depends on the type, such as central or string inverters, microinverters, and power optimizers plus inverter models.
String inverters are easy to install. On the other hand, microinverter installation and maintenance are more complex. However, they have higher energy production efficiency than string inverters. They also don’t need wiring because installers can directly connect them to the solar panels.
The lifespan of solar inverters is 10 to 15 years. Therefore, you need to replace your solar inverter at some point in your solar panel’s life. String or central inverters have standard warranties of five to 10 years.
Total Cost To Build A Solar Energy System
On average, the total cost to build a solar energy system is USD$15,000 to USD$25,000. This price includes a solar panel, solar battery, and inverter installation.
Building a solar energy system can be expensive. But it’s all worth it. You can compare how much electricity bills you pay versus the long-term savings you can obtain from a solar energy system to see a big difference. Understanding your solar energy equipment options can help reduce the upfront cost and scale your system as necessary once you have the budget. Consider talking to a solar energy specialist to get expert advice.