Understanding Solar Panel Cost: What Components Should You Consider?

There is a common belief that a solar panel is expensive and requires a lot of work. But the truth is completely different. Nowadays, solar panel cost has come down significantly compared to the past. Moreover, you get a higher return on investment after the installation of solar panels. The reason? You receive numerous benefits: lower electric bills, lower carbon footprints, and potentially higher home values. 

In this article, we have discussed the components of solar panels to help you make financial calculations and understand the solar panel cost. Let’s get started. 

Major Components of Solar Panel  

Also known as photovoltaic panels, solar panels are the backbone of the solar power system. The solar panel cost is based on different factors and components such as the number of cells required, the types of cells used, efficiency, technology types, and so on. Let’s discuss them in detail below:  

Solar Cells: These are the building blocks of solar panels, and they also have a major impact on the solar panel cost based on the materials used to build them. Typically, there are two types of solar cells – monocrystalline and polycrystalline solar cells. The former has higher efficiency and hence, costs more. Nowadays, you can also find advanced-level solar cells made with materials other than silicon. The solar panel cost varies accordingly, so keep a tab on that. 

Solar Glass: Another important component of a solar panel is this outermost layer that helps in boosting performance. It protects the panels from harsh weather, dust, and dirt. The quality of solar glass can also impact your solar panel cost.  

Back Sheet: This one is used as a protective layer at the back of the solar cells. It also helps in electrical insulation.

Aluminium Frame: The aluminium frame used to provide structural strength also matters in solar panel cost. They should be lightweight but also stiff to withstand extreme weather conditions. 

Interconnector: As the name suggests, an interconnector is used to bind the solar panels with each other. These should be extremely weather-resistant and strong to enable secure connections. 

The Solar Panel Cost Factors 

Each of the components mentioned above impacts the overall solar panel costs. You can also calculate the cost based on the efficiency, technology, numbers, and type of solar panels you need. 

For more power and efficiency, you will need more cells and hence higher costs. You can decide this by getting an idea about your annual electricity usage, solar panel wattage, and production ratio. Just multiply your household’s hourly energy requirement by the peak sunlight hours for your area and divide that by a panel’s wattage. Or just simply contact the solar panel installer and get help in selecting a suitable solar panel. 

Another factor that can significantly lower your solar panel cost is government subsidies. The Indian Government offers subsidies and tax credits to those who install rooftop solar PV panels for residential purposes. Head to the website to know more. 

Summing Up 

A solar panel incurs a huge investment, and hence it is advised not to compromise on the solar panel cost. Just make sure you learn about all these components carefully and then make an investment. The best idea would be to consult a solar power brand and get a consultation on the components from them. 

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