Investing in Solar Panels? Here Are 5 Factors Including Solar Panel Price You Must Consider

It goes without saying that solar panels are a sustainable choice, as non-conventional power sources are safe for the environment and the planet. Plus, you get the added benefit of cheaper utility bills while drastically reducing your ecological footprint. But while most of us realize the importance and advantages of solar power systems, buying one can get confusing. 

Investing in Solar Panels? Here Are 5 Factors Including Solar Panel Price You Must Consider

In addition, switching to solar energy also requires some planning, and several questions may come to mind. So, whether you’re investing in solar panels for your home or workplace, this guide will include all the crucial factors to consider, including solar panel price. 

Let’s take a look!

1. Which Solar Panels Should You Buy? 

If you’re planning to invest in solar panels, the very first thing you need to figure out is which type of panel to buy. Here are the two options readily available in the market: 

• Polycrystalline Solar Panels – These solar panels consist of blue-hued PV cells, have a simple manufacturing process, and are quite durable. However, polycrystalline panels offer lower efficiency, especially during extreme temperatures – which is why the solar panel price for this technology is comparatively lower. 
• Monocrystalline Solar Panels – Monocrystalline panels consist of black PV cells that offer higher conversion efficiency compared to polycrystalline panels. But since the manufacturing process is complex, the solar panel price for the monocrystalline technology is quite expensive. 

Although both types of solar panels have the same function, it is vital to choose one suitable for you. However, it is also important to keep your power requirements and budget in mind. 

2.  Installation Space

While the optimal position for solar panel installation is the rooftop, you need to ensure if the space receives direct sunlight and is spacious enough. Additionally, the roof may require some modification, repairing, or even a replacement as the area needs to be sturdy to withstand the panels’ weight. So, before you go ahead with the installation, thoroughly examine the rooftop’s robustness. 

3. Solar Panel Price 

Even though solar panels increase your savings over time, there are some costs that you must evaluate before investing. First, you need to consider the upfront solar panel price, which largely depends on the technology, build quality, and features. Since both monocrystalline and polycrystalline PV panels are expensive, you may have to explore financing options or EMIs. 

Second, comes the installation cost, including hiring professional services and any rooftop repairs. While solar panel installation is not so pocket-friendly, you can opt for subsidies and rebates offered by your state government, thereby reducing the overall cost. 

Lastly, you must also consider the costs involved in getting the required government approvals and permits as you may be required to pay some fee. Therefore, be sure to factor in all these costs as solar panel price involves much more than what you pay for the product. 

4. Maintenance Requirements 

Ensuring your solar panels stay in good condition is essential to reap all their benefits, especially continuous power supply, power backup, and lower electricity bills. So, before you install the PV panels, ask the solar solution provider about the maintenance requirements and procedures. Doing so is crucial as your solar equipment & panels may not last as long if you can’t follow the maintenance instructions. 

5. Look for A Reputable Brand 

Since solar panels are an investment, buying them from the right place is of utmost importance. Therefore, you should look for reputable, well-established, and reliable solar power solution providers offering high-quality solar panels. The best way to do so is by checking customer reviews and online ratings, as it will give you a better idea of the brand’s services. 

Luminous is an industry leader in the solar power solution market, offering a wide range of high-quality PV panels at affordable prices. Additionally, Luminous’ impeccable after-sales services and customer support will guarantee you a hassle-free, quick, and easy purchase experience. So, explore their range of solar panels and don’t forget to consider the key factors such as solar panel price before making the investment.