Thinking of a green source of energy, that’s great. But while budgeting we come to know that solar panels are so expensive, much more expensive than we thought.
In this article we’ll see the main reasons why are solar panels so expensive.
Reason #1
The main reason why Solar Panels or PV Panels cost so much is that they make so little electricity.
On average, a square meter space can generate around 200 watts, which means for the 1-kilowatt setup you’ll require around 5 square meters of open and sunny area with that many solar panels.
Since we install it on the roof area or on the terrace that space could easily be wasted unless you live in a costly area. If space is your major issue, better invest in monocrystalline solar panels, they generate more electricity in less space, but again, they cost more than polycrystalline solar panels.
As of now, solar panels are not that much expensive. Numbers of go-gree initiatives and healthy competition made solar panels affordable. In the coming days, it will be cheaper.
Reason #2
Solar Panels are affordable to most of us but other accessories are not. Solar setup will require a charge controller, an inverter, one or more inverter batteries, a solar stand, a stand for PV Panels, and DC wire for all sorts of connections. In all of that, if you’re on an off-grid setup then much of the cost will come from solar inverter batteries alone.
Although these are a one-time cost and PV Panels will run for more than 25 years without any issue, it is a long-run investment that will lead to free energy for many years to come.
These are 2 major reasons why solar panels or PV panels are so expensive. If you are struggling to make solar panels work for you financially you can apply for a solar panel grant through Warma UK. Solar panel grants do not have to be paid back and can be fully funded as part of the ECO4 scheme.
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