What's The Average Cost of Installing Home Solar Power Systems?

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In the past decade the price of installing solar systems on residential roofs are gradually falling in Australia. There are many factors for this. The Chinese economy is producing and exporting more panels which has increased the supply. These solar cells from China are more affordable for consumers and the increase in supply has reduced the price of obtaining solar panels. 

Also, the government in recent years has offered massive subsidies to benefit residents who are installing solar panels for their household. This has caused what is known as “hypercompetition” and this has also reduced the price of installing solar cells significantly. Without these factors the price of solar panels would be very high and unaffordable for most Australians. Due to the affordability of renewable energy in Australia compared to all the other countries in the world, Australia has the highest rate of household installation of solar panels in the world.

Breaking Down The Costs

The cost of a good quality 5kW solar system that has around 15 cells in Australia will cost anywhere around $4000 to $9000. Average quality 5Kw solar system may cost about $2500. Prices vary a lot when it comes to solar panels because there are numerous different types of panels that have a different system and quality. The other thing is you aren’t just paying for the panels, there are also additional costs involved as well. These additional costs include the mounting system and the balance of the system. The mounting system is what physically attaches the panels to your roof.

Mounting The Panels

The mounting of the panels is important because they will need to withstand weather events such as hail, heavy rain and winds for at least twenty-five years. So, the mounting system needs to be high quality and resistant to corrosion as it will be exposed to rain water. For more information on getting a quote for installing solar click here. 

Then there is the balance of the system or what is usually called the “BOS.” The BOS includes all the electrical parts of the solar system. These include the switches, wires, circuit breakers, cables and the most important part the inverter. The inverter is the most expensive part of the BOS components and can cost thousands of dollars. High quality BOS components are important for the solar system to work efficiently and safely.

Getting The Right Tradesmen To Install The Solar System 

The other additional cost is having a qualified electrician to come and do the instalment. The cost of labour depends on how difficult the solar system is to install in your household. Making sure your instalment is done by an experienced electrician ensures that your solar panels function to their full extent.

Does Your Location Matter? 

The cost of solar systems also depends where you live. For example a simple 5kW solar system costs you around $6,400 to install in Hobart, Tasmania. But the same solar system will cost around $4,500 in the Gold Coast, QLD. Therefore, it is important that consumers do their research to find out the prices of a solar system.

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