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Costs for a solar system in 2021: The Overview

Costs for a solar system in 2021

Installing a solar system on your roof is the wish of many homeowners. You can find out what costs you have to expect here.

The photovoltaic system converts solar energy into electricity. It optimizes, especially in combination with solar storage, self-sufficiency, thereby increasing the self-sufficiency of the property. This increases the value of the property. But also, from the perspective of rising electricity prices, installing a photovoltaic system is a good way to benefit from the advantages of a solar system on your own roof.

At first glance, the cost of the solar system seems high. However, if you consider the benefits that come primarily from combining it with a solar storage system, these costs will be lowered in many ways.

Below are some frequently asked questions about solar system costs, storage system benefits, and various state subsidies.

How much does a solar system cost?

The cost of the solar system includes the cost of various technical components and the additional materials and labour costs required to install the photovoltaic system.

Before planning a solar system, roof statics should be checked. If necessary, structural changes to the roof structure may be required in advance because only a stable roof with sufficient load capacity can reliably support the additional weight of the photovoltaic system and the increased wind load caused by the solar system. Roof renovation is one of the reasons for the ideal time to install a solar system.

The components of a solar system:

– Solar modules with integrated solar cells

– Inverter

– Fastening materials and wiring

– Possible control technology

Solar modules – the heart of every photovoltaic system

The majority of the solar system costs are caused by the solar modules. Particularly powerful and efficient crystalline solar modules range from $1,100 to $1,500 net per kWp. Thin-film models are already available for $750 net per kWp.

– Inverter approx. $200/kWp

– Mounting systems approx. $130/kWp

If you feed into the public grid, you need a grid connection for the PV system. The costs of this are about $1,000.

Take into account the available subsidies such as KfW funding and state subsidies in your calculation.

The inverter and its tasks

The inverter converts the direct current (DC) generated by the photovoltaic system into alternating current (AC). Only in this way can consumers use electricity at home or fed it into the public grid.

Other important tasks of the inverter are performance optimization of PV systems, output and system monitoring, and grid monitoring. Once it detects a deviation from the specified 50Hz constant frequency by measuring the power grid, it will disconnect the solar system from the power grid. This is possible during peak hours around noon in summer because the excessive power from the PV system exceeds the 50 Hz required for grid stability.

For the new rooftop solar system, you can choose a grid-connected PV system or an island system. The grid-connected system transmits excess energy to the public grid. The island’s system is completely self-consuming and requires storage media based on power generation and consumption.

A solar system with storage – a real alternative

As electricity prices continue to rise and the decrease feed-in tariff, the feed-in into the public power grid is becoming less and less profitable. Use the electricity generated by renewable energy as much as possible for your own consumption, thus reducing your energy costs. 

The modern storage system for solar energy systems is maintenance-free and has a powerful lithium-ion battery. Due to their long lifespan of 20 years, these storage systems are perfect for your new PV system. The storage system improves the efficiency of renewable energy generation.

Storage systems increase the efficiency of electricity from renewable energies.

With new plants, it is much more efficient to maximize self-consumption from an economic point of view. But even if you supply electricity to the public grid: if there is no storage, you will generally lose a considerable amount of energy, especially in the hot summer. Especially at this time, it is not always possible to feed the generated electricity to the public grid. 

Your benefits with a storage solution

With one storage, you benefit from several advantages:

– Self-consumption increases the profitability of the PV system.

– Own electricity is available when it is needed.

– Rising electricity costs increase savings every year.

– Solar system costs pay for themselves faster.

– The degree of self-sufficiency of the property increases noticeably and thus the real estate value.

Although the cost of solar energy systems has increased due to storage, it makes sense to make self-consumption as high as possible from an overall perspective. The latest generation of innovative storage media has a long service life and extremely high efficiency, so the loss of production caused by storage is minimal.

When is a solar system profitable?

If you are currently planning a new photovoltaic system, you must combine it with a storage system. Because the rising electricity price has brought a huge burden to the budget, and the on-grid electricity price of electricity entering the public grid is low. 

If the self-consumption increases, the cost of the solar system will decrease from the first day of commissioning.

Costs of the solar system compared to the savings.

With an average consumption of 4,000 kWh per year, your electricity costs are reduced by just over $800 annually. It is purely for self-use and does not need to supply power to the public grid. If the cost of 8.53 cents per kilowatt-hour of electricity is taken into account, the self-produced electricity with a production cost of 11 cents is still 12.47 cents/kWh cheaper than the electricity supplied by the energy supplier.

Despite the financing costs, it can save you money from the first day of commissioning the photovoltaic system. Once the financing is paid off, the production cost will be reduced from 11 cents per kilowatt-hour to about 4 cents per kilowatt-hour because now only solar system costs are incurred for the annual operating costs for maintenance and repair.

What percentage of energy costs can a solar system save?

Actual energy cost savings depend on several influencing factors. This mainly includes the size of the plant. A normal single-family home can use 5-6 kWp PV systems to meet its own needs under optimal conditions. Of course, total demand differs greatly from each individual’s personal electricity consumption. However, the coverage of own needs requires optimal conditions:

– Roof pitch from 30 to 35°

– Angle of the roof to the current position of the sun 90°

– actual angle of the beam of the sun

– any existing tracking systems

– Number of sunny days

– no shading by buildings or trees

Solar Ocean is Australia’s most reliable renewable energy source and integrator. We are a fully owned and operated Australian company. Our solar panel systems are backed by a 10-year product warranty, a 25-year panel performance warranty. Solar Ocean was formed to help residences and commences overcome the most significant challenges because of high electricity/utility bills.

Read our blog on Smart Solar Panel vs Traditional Solar Panel

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