Thanks to government rebates and falling solar prices, solar is now cheaper than ever.
For a 5kW system (a commonly installed size in Australia), you can expect to pay:
- Between $5500 to $8000 for good quality solar panels with a string inverter
- Between $8000 to $9500 for good quality solar panels with microinverters
The best way to determine the exact price for your home is to get a quote.
Once you get quotes, you’ll also notice that prices can differ wildly. Here’s why.
The quality of solar panels and inverters can vary. You can find anything from cheap, poor-quality panels and inverters that are best to avoid, to high-end premium panels and inverters with extended warranties. Premium panels and inverters cost 20% more.
Micro inverters are able to maximise the amount of electricity produced at each panel. They also allow you to monitor the amount of electricity being produced by each panel which isn’t possible with string inverters. Because of these advantages, solar power systems using microinverters come at a premium (typically $2000 more).
Prices can be higher for non-standard installations including:
- Difficult to access places
- Homes with long distances between the panels and the electrical switchboard
- Flat roofs or roofs with an inappropriate pitch
If you have an old switchboard, it might also need to be upgraded. This will cost approximately $1,000.
Though, you’ll find much cheaper quotes in the market, it’s best to look for solar power systems that fit into the above price range. If the price is very low, it could mean:
- The company is operating at tight margins which poses a risk that the company could go into liquidation
- Poor quality panels and inverters are being installed which means that the system’s safety may be compromised or you’ll need to replace the components prematurely
- After-sales support will be minimal