How much do solar panels cost in 2024?

If you’re wondering how much solar panels cost in 2024, you’re in the right place. Understanding solar panel costs upfront is a great way to know if investing in solar is for you.

Let’s break down what goes into the price of solar panels so you can get a better idea of how much a system might cost you.

Key Takeaways

• Breaking down the cost of a solar installation
• What else impacts the cost of your solar panel system?
• How can I pay for solar panels?

How much is a solar panel installation?

There are a few different things that impact the cost of a solar panel installation; let’s take a look.

Solar equipment costs

The overall cost of your solar installation will consider the price of the various hardware and equipment used. These include:

• Solar panels
• Inverters
• Mounting systems
• Wiring/electrical components

Optional solar equipment can include:

• Batteries
• Charge controllers
• Monitoring systems
• Net meters

Installer/labour costs

You also need to pay for the labour involved in securing the solar panels. Keep this in mind when considering the overall solar costs, as skilled labour will make sure your solar panels are fitted safely and efficiently.

Interconnection fees

This is a lesser-known cost related to solar panel installation, but it is necessary to connect your system to the power grid legally and safely. Interconnection fees cover the admin costs of linking your solar panel system to the utility grid.

Levied by your local District Network Operator (DNO), these fees vary depending on system size and where you connect. Connecting to a more congested part of the grid might involve higher fees than areas with spare capacity.

See your solar savings with our solar panel calculator

Solar panels come with plenty of long-term savings. Check out our handy solar panel calculator here to see how much you could save with solar power!

What else impacts the cost of your solar panel system?

The costs related to your solar installation aren’t the only costs you need to consider. Your final quote will depend largely on the size of the installation, as this determines how many solar panels are needed.

Let’s take a closer look.

System size

A larger system size is great if you want to maximise the amount of solar power your panels can turn into energy, but more panels also equate to a higher price tag.

On the other hand, you could choose to use fewer, more efficient monocrystalline panels, but these tend to be more expensive than less efficient polycrystalline panels.

Roof condition and orientation

Solar panels can be heavy. If your roof isn’t in top condition (e.g., damaged tiles, leaking, etc.), it might not be able to handle the weight of a solar installation, resulting in potential impairment or even collapse. In this case, you may need to spend extra on repairs beforehand.

Panel maintenance costs

Solar panels are a very low-demand technology, but that doesn’t mean you can set them and forget them.

Occasional cleaning to remove dust and debris will help keep your panels working as efficiently as possible. If your panels are particularly hard to reach, you might need to hire a professional cleaner with the correct safety equipment to do this for you.

You might also need to invest in new parts (e.g., inverters and damaged panels) in the rare case they need replacing or repairing over their lifetime.

Additional hardware (monitoring system/battery storage)

While optional, additional equipment can help you make the most out of your solar panels. A monitoring system can help you track how much electricity is generated and whether your energy needs are being met while also highlighting any issues or inefficiencies.

On top of this, battery storage has two major benefits.

They store excess solar power generated during the day for use at night or during cloudier periods.

Battery-stored solar energy can also generate extra income by being sold back to the grid via Feed-In Tariffs.

How can I pay for solar panels?

Knowing how much solar panels cost can be tricky because there are so many variables to consider.

If these costs appear too high at first, we have good news. The government offers a number of grants and funding options to help people like you with home heating upgrades, including solar panels!

For example, the ECO4 grant scheme provides home efficiency upgrades to eligible households nationwide, either for free or at a heavily subsidised rate.

This includes reduced home insulation, heating upgrades, and solar panel installation.

But what if you don’t know where to start with your ECO4 claim? That’s where Grant Store comes in.

Not only can we guide you through the ECO4 application process to see if you can get solar panels at a reduced rate, but our expert team of solar installers will also secure your panels for you. It couldn’t be easier!

If you think solar panels are the way forward for your home or business, Grant Store is here to make access to solar power easier.

Just get in touch with a member of our team to learn more about how you can live comfortably and sustainably with solar power today!

Factors to Consider When Choosing Solar Panels

When choosing solar panels, several factors need to be considered to ensure maximum efficiency and return on investment. The type of panel, energy production potential, and evaluation of electricity prices are all crucial considerations.

Roof Space Needed for Installation

When considering the installation of solar panels, one important factor to take into account is the amount of roof space needed. The size of the panels and the desired capacity of the system will determine the required roof area.

It’s important to note that the amount of usable roof space can vary from house to house. Factors such as obstructions like chimneys or roof windows, as well as the shape and orientation of the roof, can impact the available space for solar panels. Therefore, homeowners should consider their specific roof dimensions and any potential limitations when planning for solar panel installation.

Type of Panel (Monocrystalline or Polycrystalline)

When it comes to solar panels, there are two main types to choose from: monocrystalline and polycrystalline. Each type has its own unique characteristics, including cost and efficiency.

Monocrystalline solar panels are known for their high efficiency. They are made from a single crystal structure, which allows them to generate more electricity compared to polycrystalline panels. However, this higher efficiency comes at a higher cost. On average, monocrystalline panels are more expensive than polycrystalline panels.

On the other hand, polycrystalline solar panels are more affordable but have slightly lower efficiency. They are made from multiple crystal structures, which can lead to a decrease in overall performance. However, their lower cost makes them a popular choice for homeowners looking for a more budget-friendly option.

There is also a third type of solar panel called thin-film panels. These panels have a higher surface area requirement but are generally less expensive. However, their efficiency is lower compared to monocrystalline and polycrystalline panels.

Find out how solar panels work here.

Excess Energy Storage with Batteries

Surplus energy storage with batteries plays a big role in a solar panel system, providing numerous benefits for homeowners. When solar panels generate more energy than is needed at a particular moment, batteries allow for the storage of this unused electricity for future use. Additionally, homeowners can choose to sell this excess electricity back to the grid, further optimising their energy generation.

The importance of solar batteries lies in their ability to increase self-sufficiency. By storing excess electricity, homeowners can rely on their own generated power during times when sun exposure is limited or demand is high. This reduces reliance on the National Grid and helps homeowners maintain a consistent power supply.

Moreover, using batteries in a solar panel system allows homeowners to take full advantage of their energy generation. By storing excess energy, it can be used during peak demand periods, reducing the need for purchasing electricity from the grid at higher prices. This can result in significant energy cost savings over time.

Read our latest guide: How do you store solar energy?

Solar Panel Systems with Grant Store

Investing in a solar panel system isn’t just a step towards a more sustainable lifestyle; it’s also a smart financial decision in the long run as the potential savings will benefit you for years to come. That being said, we understand it’s a big decision. That’s why we’re committed to standing by you every step of the way.

Our expertise in the industry, paired with a dedication to top-notch service, makes us the go-to company for all your solar energy needs. We take pride in tailoring solutions that are not only cost-effective but also environmentally conscious, ensuring that your transition to solar is smooth sailing.