What determines the price of a solar PV system?

Solar Tips by SunPro Energies

Now that you’ve taken the first step to invest in a solar system, here is a checklist you can run through to ensure you’re maximizing on this investment.

If you are on the lookout to go solar, bear this in mind as you speak to various solar professionals.

In Singapore, there is an upward trend of solar adopters. More users are installing solar PV systems on their buildings to mitigate climate change. If you are thinking of installing one on your roof, the most cost-efficient purchase is to do an upfront purchase.

In considering whether it is worth the buck, let’s take a look at what constitutes the price of a solar PV system first.

Here are three main considerations that affect the pricing of a solar system.

 

Material Cost 

The main components of a solar PV system are the solar panels and an inverter (to convert D.C. to A.C.). There are many options in the solar market, and with the global increase in demand for solar energy, suppliers are also introducing newer technologies.

There is no fixed pricing for solar systems. However, it is true that the higher the system size, the lower the cost of solar panels too (rule of supply and demand).

After the preliminary site visit, the engineers will then work out a system size that works best for the consumption needs of the building owners. The number of inverters will then be dependent on the system size.

 

Labor Cost 

Installing solar panels has its inherent risks. Construction workers are required to put on safety gear and mount the system at a considerable height above ground. Installation is also dependent on the weather. All installation work has to be carried out under the sun and in the event of rain, installation work has to be halted.

Therefore, the total time required to mount, install and finalize the installation can be lengthy.

In Singapore, there are solar companies who employ their own construction workers directly. Doing so allows for quicker delegation of tasks and clearer estimation of project timelines since there is clearer communication between the project managers and the workers.

 

Brand Expertise 

Finally, one also pays for the quality of service delivered.

The process of switching to solar is a new experience for many. And in most cases, it involves several weeks of discussion, designing and installing. Furthermore, the panels have a warranty of 25 years, and you can expect to be in touch with your solar installation team throughout this period.

And this brings us to the point of brand expertise. When considering who to commission, consider the reputability of the company. You will not regret paying a little more for more precise drawings, quality execution and efficient after-sales maintenance.

 

As the trend for the demand for solar PV systems grows, you can expect more innovative technologies to develop. This evolving market for solar energy will certainly affect the price of a solar PV system.

Therefore, keep an open mind as you explore the options. The long-term benefits are aplenty, and it is always better to be at the start of this sustainable effort. Let us save on bills and save the planet together.

Here at SunPro Energies, we believe in creating a future that champions sustainability. If you are considering going solar, that is great news!

Write in to us for a free site visit and quote and let us be your sustainability partner. SunPro Energies is proud to say that we have our own team of construction workers, are Bizsafe Star certified, and has an experienced team to walk you through your solar journey.

Join us to champion a greener future with solar energy.

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