As more people explore renewable energy options for their homes and companies, the phrase "solar panel" is becoming rather common in India. For many, solar panels have become a desirable choice given rising electricity prices and a greater awareness of environmental effects. In response, the Indian government has introduced several programs aimed at commercial buildings and businesses in order to support solar energy. But the wait for a residential solar panel initiative has come to an end with PM Surya Ghar Yojna's introduction, meant to run one crore houses on solar panel systems.
Installing a 3kW solar panel system or more qualifies for a solar subsidy of up to 78,000 INR under this Scheme. Avg. price of single solar panel in India starts from ₹1,000 to ₹13,500 and average price of 3kW solar panel with the complete solar system is ₹1,80,000 and 5kW solar panel with the complete solar system is ₹3,00,000 including installation. People can install these solar panels through subsidy scheme. For more detailed information about the scheme, you can visit here.
Avoid the Misunderstanding about Solar Panel Price
When discussing solar panels, many people visualize only the photovoltaic (PV) modules visible on rooftops. However, powering a home with solar energy requires a complete solar panel system, which includes not just the solar panels but also a solar inverter and, in the case of off-grid or hybrid systems, solar batteries. This misunderstanding often leads to confusion about the overall cost of installing a solar panel system. For instance, if you search for "solar panel price" online, you will likely find prices for just the PV modules. To avoid this confusion and get a more accurate estimate, it is advisable to search for the price of a solar panel system per kilowatt (kW). While the fixed price of the solar panel and installation cannot be decided, this approach gives a much clearer estimation of the total cost required for the solar unit needed to power your home.
Types of Solar Panels
Before diving into the costs associated with solar panels, it's essential to understand the different types and technologies used in PV modules. The efficiency of solar panels has been improving year after year, thanks to advancements in technology. Here are the three main types of solar panels currently available:
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With an average efficiency of 20–22%, bifacial panels are one of the the most modern and advanced types of solar panel technology accessible today; peak efficiency can exceed 25%. Unlike conventional panels, these ones can capture more sunlight as they can create electricity from both sides. Painting your roof white would help to enhance their efficiency by increasing the reflecting qualities and hence energy generation. Because bifacial solar panel is more efficient, less panels are required to satisfy your energy demands, therefore conserving rooftop area.
Best Product: Loom Solar SHARK 575 Watt Bifacial Panel
Warranty: 25 years
Output Power: 570-700 Watts
Price: 13,500 INR (for single panel only)
2. Mono PERC Panels
Currently the most often used solar panels are mono PERC panels. Designed from single silicon cells, they have an average efficiency of 19–22% and outperform other panel kinds in low-light environments. Mono PERC panels are more costly, but their better efficiency helps to reduce the number of panels needed to satisfy your energy needs, therefore possibly balancing the initial outlay over time.
Best Product: Loom Solar Mono Perc Harf Cut Shark 550W Solar Panel
Warranty: 25 years
Output Power: 550W
Price: 13,000 INR (for single panel only)
3. Polycrystalline Panels
Made from many silicon cells, polycrystalline solar panels typically have less efficiency—between 14 and 17%. More panels and more space are needed to generate the same quantity of solar electricity as Mono PERC or bi-facial panels since their lower efficiency. Although polycrystalline panels are less expensive, you might have to install more of them to reach the intended energy output, therefore raising the total cost. These can be a better option for people who are looking for solar panel under 3,000, solar panel under 5,000 and portable solar panels.
Best Product: Loom Solar 20Wp, 12V PV Module for Small Battery Charging & DIY Projects
Warranty: 25 years
Output Power: 20W
Price: 1,500 INR (for single panel only)
Getting the Right Cost Estimate
Now, let's talk about the numbers. As mentioned earlier, many people search for the price of individual panels, but the correct way to get an accurate estimate is to look at the cost per watt or kilowatt (kW). For example, the average price for a 1kW solar panel (around 450W) is approximately 21,000 INR. While this might seem affordable, a registered distributor will typically provide a quote of around 60,000 INR for a complete 1kW solar panel system. This system includes not only the solar panels but also the solar inverter, DC cables, framing structure, and other necessary components.
Here's a breakdown of the average cost per kW for different solar system sizes:
It's interesting to note that as the size of the solar system increases, the cost per kW decreases significantly. This reduction in cost makes it more economical to install larger systems at once rather than smaller individual systems of the same total size.
Note: Price range may differ from region to region according to location, terrain, system size, type of solar panel, and installation site. By 2024, a solar panel in India will cost ₹25-₹30 per watt, totaling ₹25,000-₹30,000 for a 1 kW panel with GST and transportation.
Conclusion
Investing in solar panels is becoming increasingly popular in India due to rising energy costs and a growing commitment to sustainability. Understanding the different types of solar panels and the components of a complete solar panel system is essential for making an informed decision. By taking advantage of government schemes like the PM Surya Ghar Yojna and choosing the right solar panel technology, homeowners can significantly reduce their energy costs while contributing to a greener future. Remember to consider the total cost per kilowatt when planning your solar installation to ensure you get a clear and accurate estimate.
