How much does solar cost?

Demystifying home solar system costs

The popularity of solar power is growing rapidly, and with good reason. It offers significant cost savings, environmental benefits, and energy independence. But for people considering the switch, a key question often arises: how much does solar cost?

The truth is, there's no one-size-fits-all answer. But I know you came here for an answer, so if you want a quick estimate, here it is up front, but first, the caveats:

These estimates are for straightforward installations without ad-ons like batteries and EV chargers. The size of the system you need may vary too. Also, upgrades like efficient lighting and a hot water heat pump (click here to learn about heat pumps) will provide significant energy savings and reduce the size of the solar system you will need. This does not account for the interest-free loan provided by Solar Victoria.

• A standard 6.6kW solar system will cost you less than $5,000.
• A slightly larger 10kW system will set you back about $6,000 - $7,9000.

In reality, your home's solar system cost depends on several factors specific to your needs. However, understanding these factors empowers you to make informed decisions and navigate the world of solar installations with confidence.

Key Factors Influencing Solar Panel Installation Costs:

• System Size: The size of your solar system, measured in kilowatts (kW), directly impacts the cost. Larger systems generate more power but require more panels and equipment, driving the price up. One of the first things we will do when you speak with us, is assess your energy consumption to determine the optimal system size for you.
• Equipment Quality:  The quality of inverters, batteries (if applicable), and other components influences the price. Opting for reliable, well-known brands ensures long-term performance and minimises the risk of breakdowns. Here at Winki, we prioritise using top-tier equipment to guarantee the optimal performance and longevity of your solar investment. This is, after all, an investment in the future.
• Rooftop Suitability: The type and condition of your roof plays a role. North-facing roof angles (even East and West are quite good) with ample space are ideal for solar panel installation. Complex roof layouts or those requiring additional support structures (we call it racking) to mount panels on, might incur slightly higher costs.
• Ad-ons: This can be the biggest factor that changes the price of solar. In order to reduce your reliance on the grid to zero, you may want to install batteries so you can use your solar power throughout the day and night. You may also want to charge your electric vehicle at home or get a hot water heat pump. These will all increase the cost of course.
• Government Incentives: For residential systems, Solar Victoria currently offers various rebates and interest-free loans for solar panel installation, battery installation and heat pump installation. For solar panels, most people will qualify for a $2,800 rebate AND an interest-free loan.

A word on payback period of solar panels (PBP)

Payback period is probably the other of the two most important numbers when considering the financials of investing in solar. Payback period is the amount of time that it takes to make back the money on an investment. For example, a solar system that costs $6,000, and saves you $2,000 per year will have a payback period of 3 years. So here, we can see that changing the solar system cost, or changing the amount of money it saves on your energy bill will both influence the payback period of solar.

We've spoken about things that can impact the install cost. Here are some things that will alter the savings you will see:

• The amount of sunshine your panels get: Luckily in Australia (even in a cloudy Victorian winter) we get plenty of sunshine. You will produce less energy on a cloudy day, but modern solar panels have gotten much better. But if you produce less solar, you'll be drawing expensive energy from the grid more often.
• Battery storage: Without a battery, excess solar you produce during the day is fed back to the grid for others to use, and you are paid for this energy. But because the electricity distributors don't pay very much, it's usually better to store it in a battery to use yourself. This means you can run on solar at night and when it's cloudy and make the most of what you produce during the day.
• Microinverters (like the one from Enphase): These have a range of benefits. Improved monitoring allows you to see if there is a problem to one of your panels immediately, and rectify the issue, getting you back to producing at full capacity sooner. Microinverters also decouple panels from each other, meaning that if one panel is shaded or damaged, the others can continue to produce a full capacity; in a normal string-inverter system, all panels on the same string would be producing at a lower output, even if only one is shaded.
• Solar panel quality: Not all panels are made equal. Some are more efficient than others, some last longer, and some are cheaper. Click here to see the range that we offer, and get in touch if you have any more questions.
• Roof angle: North-facing roofs are best, East and West are also great, and South is slightly worse.
• Feed-in tariff: This is what you get paid for your excess solar that goes into the grid. This means you get to make money on the solar you don't use.

Solar cost calculator

To get a good estimate, you might like to look at this solar payback period calculator made by Solar Quotes. They're a well-known and reputable company in our industry and have lots of information about solar system costs and solar power in general.

The Winki Difference: Hassle-Free Solar Solutions

Winki understands the importance of transparency throughout the solar installation process.  We don't just provide a solar panel quote – we work closely with you to assess your energy needs, recommend the most suitable system size and equipment, and ensure you understand the factors influencing the final cost.

Our team of experts is dedicated to providing a seamless and hassle-free experience.  We handle everything from initial consultation and design to installation, testing, and ongoing maintenance. This ensures your solar system operates at peak performance for years to come, maximising your cost savings and environmental impact.

Ready to Embrace Solar Power?

Investing in solar panels is a strategic decision for anyone. While the upfront cost is a consideration, the long-term benefits are undeniable.

Contact Winki today for a free consultation and a free quote. Let our team of experts guide you on your path towards a brighter, more sustainable future powered by the sun.