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How Much Do Solar Panels Cost?
The cost of your new solar panels will, of course, depend on how big a solar system you want.
Under the old rebate scheme (pre 10 June 2009) most people plumped for a 1kW solar PV system. Why? Because the old scheme maxed out at 1kW. However the new Solar Credits rebate scheme now goes up to 1.5kW. This makes 1.5kW the best value size to go for at the moment. To understand why, here’s how the finances work out:
(Note: these prices are very approximate and assume quality components. To get an accurate pricing for your particular situation, I would advise getting 3 quotes from local installers)
| Typical cost of an installed 1.5kW solar system: | $5,500 |
| Government Rebate: | $3,000 |
| Cost to you for 1.5KW of solar power: | Approx $2,500 |
Of course you may be keen to insulate yourself fully from rising electricity prices and generate all the power your household uses with solar panels. For the average Australian household this will mean that you will need a 4-5kW system costing approximately $8,000 - $10,000 after rebates.
However everyone’s situation is different, so when you get your 3 quotes, the solar power contractors can advise you exactly what you will need based on your energy consumption and location. And remember that it is almost always cheaper to take basic energy efficiency measures to reduce your electricity demand before you size your solar system.
More details on Australian Government Solar Power Rebates here.
Approximate Costs of Bigger Solar Systems After Rebates
As at January 2012
2kW : $3,800
3kW : $6,000
4kW : $8,000
5kW : $10,000
10kW: $20,000
I've also created some handy solar calculators that let you try out different finance options and see the overall solar savings over the lifetime of your system. The Solar Calculators are here.
