Solar energy is an excellent form of renewable energy that can go a long way in reducing the consumption of fossil fuels. However, one of the main hindrances in the widespread adoption of solar power is the high costs of solar panels. So why are solar panels so expensive?
We talked to a panel of experts, and they shared the top reasons solar panels are expensive.
According to Janet Coleman from TheConsumerMag.com…
The cost of solar panels is high because the components are expensive. Solar panels are made up of silicon, which is used in semiconductors, solar cells, and other electronics. Silicon is a very common material – it’s found in sand and makes up about 90% of the earth’s crust.
The production process for silicon is also quite energy-intensive and expensive, which adds to the cost of solar panels. There are other challenges as well. The panels require a lot of real estate because they need to be spaced out to capture as much sunlight as possible for maximum output. And they must be mounted at an angle facing towards the sun.
Despite these challenges, the prices may reduce in the future due to advancements in technology like developing better solar cells that use less silicon or produce a higher efficiency from the silicon they use.
Zac Houghton is the CEO of Loftera. According to Zac…
You can expect to pay anywhere between £380 and £505 for a single solar panel, not including service and installation. The average solar panel is around 4m, but, obviously, when you have a larger home, you will need more panels. Even though this won’t support daily energy use, it can boost your efficiency and reduce your outgoings to a degree.
Solar modules typically last between 25 and 30 years. It is possible for them to last for up to 30 years or more if they aren’t overworked and paired with enough panels to handle running your house. Once you have your solar energy systems in place, especially during the warmer months, you will be able to save more energy throughout the year.
Alan Duncan is the Founder of Solar Panels Network. According to Alan…
Solar panels are truly expensive, and it can cost you a fortune to install them. They have a high price because of the material that is used within them. The pure and high-quality silicone used to build solar panels and the lithium used in the lithium-ion batteries are costly materials. The high material cost is followed by high installation costs.
It takes highly trained professionals to install the solar panels, and therefore it costs a considerable amount of labor for installation. Moreover, solar panels are supposed to be protected using inverters for a reliable power supply. While these things make solar panels costly, some factors that can cause variations in prices are home size, product brand, roof type, etc.
Andrew Barker is the Founder of HomeownerCosts. According to Andrew…
In my experience, solar panels are expensive because of: Cost Of Equipment And Installation. The cost of solar panels is between $11,000 and $33,000 for most houses. Producing one panel requires advanced technology and expensive raw materials. Materials such as high-grade silicon and lithium. Professional installation requires years of training. It will also require them to take into account safety, state and local codes, as well as manufacturer warranties.
Amanda Hawkins is a Public Safety Researcher/ Consumer Outreach Manager Consumer’s Health Report. According to Amanda…
Installing solar panels can be very expensive; you have to consider the dangers of high-voltage jobs; needless to say, the line of work involves risks and liability, which ultimately plays into the price of the installation. Many companies will include the cost of installing the solar mounts or the racks that hold the panels. However, the price of installing the solar panels will vary on the size of the house because more labor will be involved.
You also have to consider additional costs such as local permit fees, city inspection fees, and state taxes for the price of the solar panels.
According to Sam Campbell from reddiquette…
Solar panels are expensive because the price of silicon, which is used to produce wafers for solar panels, has increased dramatically in recent years.
The prices of solar cells have also increased because they’re made from more expensive materials. Together with higher manufacturing costs and the softening of the global economy, this has resulted in an increase in price.
According to Arq. Elvis Alcequiez from Forever Architect…
One of the main reasons why solar panels are expensive is because they use large amounts of high-purity silicon, so they require skilled installers.
High purity silicon is used as a material in solar panels due to its good electrical conductivity, but several processes are used to refine this material to make it one of the purest on the planet.
The production process also influences the cost of solar panels. Solar panel modules are broadly divided into three categories: glass laminate components, PCB/PET laminate components, and epoxy components.
Melanie Musson is a renewable energy expert with Quote.com. According to Melanie…
The actual cost of manufacturing a solar panel is less than half of the price that consumers will pay. The most significant expense in the manufacturing of solar panels is the high-quality silicon which is necessary for efficient solar energy conversion.
One of the things that make solar panels so expensive is the installation cost which is nearly as expensive as the raw materials used to make the solar panels. Retail mark-up is another factor that adds to the cost of solar panels. The places that sell panels have to stay in business, so they charge more so they can take their operational cut.