Solar panels are the main part in the solar system with a job to convert sun lights to DC electricity, and their costs represent a relatively considerable amount of the whole solar system price. The price of the solar panels continuously changes from year to year based on three factors:
- Governmental incentives scheme. It will play an important role in push or down the solar system usage, then high or low amount of solar panels will be required in the market. Consequently this will affect increasing or decreasing the price surely.
- The number of solar panels manufactures. This will raise the competition which will affect the price.
- Manufactured solar panels output power ratings diversity. As the price of the solar panel differs mainly based on its output rated power, so for purchasing one higher solar panel power capacity, it will be more cost effective than purchasing two lower power solar panels.
The solar system is a profitable investment project, so it’s important to have a good knowledge about it when you are not a specialist, so you can consider the best system that cover your needs with a reasonable price. Because the solar system has along life time, and you will have a potential to benefit from it more than 25 years. That’s how durable 350watt solar micro inverters are. You have to clearly know what do you exactly need from your solar system.
In general, the solar system is indeed profitable project, it will return back its purchasing and installation costs in 4-7 years max, so it’s a worthwhile investment. And as the solar panel prices differ from one state to another, the pay-back period will differ based on where you live. In the states in which the electricity is expensive, like New York and California, the pay-back period will be quicker, and the saving will be higher.
