Understanding the overall cost of solar panel projects can be confusing–especially if you’re a first-time solar power user. Aside from purchasing solar panels, you’d have to understand installation costs, community fees, insurance, and more.
One way to quickly understand how much money you’d need to get the perfect solar panel project for you is by determining the cost via system size.
The typical cost of a solar panel system for a home is between £5,000 and £10,000. The entire cost of solar panels is determined by the number of panels you require for your home, which is determined by your energy usage.
In general, the more expensive a system is, the more power it can produce – hence the more savings it can provide.
A 3kW solar panel system, which costs £5,000-£6,000, may cover the electrical expenditures of a modest house with 1-3 inhabitants. Thanks to the free energy produced by solar panels, you may save £160 per year on your power bill with that arrangement.
A 4kW system, which costs between £6,000 and £8,000, is often installed in residences with a family of 3-4. In this situation, you may save £270 on your annual power expenditure and earn an additional £100 yearly.
A 6kW solar panel system would be necessary for larger households with four or more occupants. This might be anything from £8,000 to £20,000. With a 6kW system, you may save £430 on your annual power costs while earning £151 through SEG payments.
You are not, however, confined to these three options. The number of panels and the wattage of each panel define the system size; consequently, you may tailor the system size to your needs, such as having a 3.5kW solar panel.
If you’re installing commercial solar panels, the sizes will be much larger, and the pricing will reflect this.
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