As the advantages of solar energy become increasingly apparent, more and more homeowners are considering the switch. However, the financial aspects of solar panel installation are not as frequently discussed. 

This article aims to shed light on the different components that contribute to the cost of solar systems, and how these prices should be evaluated when researching providers and obtaining quotes. We will delve into the significance of cost per watt, before discussing the key elements (panels, batteries, inverters) of solar systems that can impact overall expenses.

Understanding Cost Per Watt (CPW)

Breaking down the total price and focusing on cost per watt (CPW) is a critical first step when considering the price of solar.

Many potential solar consumers tend to focus on the overall price of a system. While this is a useful starting point for budgeting and comparing different providers’ offers, it is not the most effective way to evaluate value.

Focusing solely on the total cost means bypassing key steps that empower you to make informed financial decisions. 

Assessing a panel’s wattage without considering price can be misleading. CPW, on the other hand, is calculated by dividing the cost of the solar panel by its wattage, providing a more balanced view of value for money.

A common pitfall with many “affordable” solar companies is their lack of transparency regarding their average CPW. Sales strategies that prioritize commissions often lead to inflated and inconsistent CPW, which has fostered distrust between consumers and the solar industry.

The Value of CPW

In the context of these industry practices, the importance of understanding CPW becomes evident. Regardless of the size of your system, CPW is a reliable and useful metric for comparison.

Think of CPW as a leveler, enabling you to evaluate systems built with different equipment. For instance, a system with high wattage may initially seem superior, but a CPW comparison could reveal that a system with lower wattage panels might be more cost-effective if there is sufficient space for multiple panels.

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Understanding Material Costs

Now that we’ve highlighted the significance of CPW, let’s take a closer look at how specific components of a solar system contribute to the cost.

The Cost of Panels

Solar panels may seem largely similar at first glance. However, various factors such as technology, aesthetics, build quality, warranty, and wattage can significantly affect their pricing.

Technology

Solar panel technology primarily falls into three categories: monocrystalline, polycrystalline, and bifacial.

Monocrystalline panels, although generally more expensive, are typically more efficient than polycrystalline panels. Higher efficiency means more energy generation for a given surface area. Bifacial panels can also produce a significant amount of electricity as they can absorb light from both sides, and are a good choice if conditions allow.

Aesthetics

High-efficiency panels come in various styles, including all black, blue-tinted, or with a white diamond grid.

Polycrystalline panels usually have a blue hue, while monocrystalline panels are often black. We recommend monocrystalline or bifacial panels due to their superior efficiency. All-black panels, although sometimes more costly, are generally preferred for aesthetic reasons.

Warranty

Quality panels, despite their higher cost, come with substantial warranties. Tier 1 panels typically offer 25-year product and performance warranties, ensuring over 80% of the original wattage value by year 25 and covering any material defects. It’s worth noting that most panels continue to perform well beyond the 25-year mark.

Considering warranty duration when evaluating cost is crucial. While cheaper panels may offer shorter warranties, a solid 25-year guarantee is well worth a slightly higher investment.

Build Quality

Selecting a reputable, established brand ensures quality materials and long-lasting warranties. Notable brands known for their quality include Q Cells, Jinko, Aptos, Silfab, and Hyperion.

Wattage

Solar panels are rated for a specific wattage, which indicates how much energy they will produce in an hour of direct sunlight. For residential solar, most panels range between 290-450 watts.

Efficiency

The watt rating can be converted into an efficiency metric that takes into account the size of the panel and its watt rating. Typical panels have efficiencies between 15-21%. Given that most residential roof panels are the same size, the wattage is a more straightforward metric for comparison.

All of these factors play a role in the final cost of your solar system. Understanding them will help you make an informed decision and ensure you’re getting the best value for your investment.

In conclusion, at Emerger Energy, we prioritize providing our clients with the necessary tools to make informed decisions about their solar energy investment. We believe in transparency and honesty in our pricing, and we are committed to supporting the local economy by working with local installers like Starlight Solar. Our goal is to help you find the solar solution that best fits your needs, and we’re here to guide you every step of the way.

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