Solar Panels Installation Cost in India for Home 2023

Solar Panels Installation Cost in India for Home 2023

To lower your monthly energy costs, think about installing solar panels on your home. With the right size solar power system, households, farms, and businesses with high electricity costs can save tens of thousands of rupees. Customers must, however, be ready to pay the upfront cost of installing solar panels in India. The initial solar investment consists of labor costs, mounting modules for solar panels, and solar component costs.

Homes with the best solar access can recover the cost of installing a solar system in 6 to 8 years. The size of the home, the electricity cost, and the method of payment all affect how quickly solar energy systems pay for themselves.

The average cost to install solar panels for a home

Are you curious about the price of installing solar panels? The construction of each solar energy system varies. Based on the type of structure, roof specifications, shading, and utility, a solar power system is specially created. For a 3kW solar panel system, the national average price for solar panel home installation ranges from Rs. 1,89,000 to Rs. 2,15,000. In India, solar panel systems can cost between Rs. 75 and Rs. 85 per watt.

Before switching to solar energy, it's crucial to think about how various factors might affect your wallet over time. These include your monthly electric bill, regional variables, the type of solar panels you have, and government incentives. Here are the main steps you can take to calculate your savings compared to the cost of your solar installation over the typical system lifespan of 25 years.

Calculating Savings in Relation to Solar Panels for Home Prices in India

1. Review Your Electric Bill-

Solar panels, which are frequently mounted on rooftops, use the sun's energy to produce their own clean power. The majority of a household's and business's energy requirements can be satisfied by solar energy during the day. As a result, installing a solar system lowers your reliance on the grid and can significantly reduce, if not completely eliminate, your monthly electricity costs.

The financial benefits of installing a solar system at home are greater the higher the electric bill. The main factors influencing your electric costs are power usage and electric tariff rates, both of which are subject to volatility.

The savings you can anticipate from installing solar panels in India can vary based on changes in the cost of electricity from the utility. Changes in energy consumption similarly impact the amount of savings.

2. Analyze the Sun Exposure You Receive

Increased energy production comes from more sun exposure. This increases the amount of money your home could save by installing solar power. 3 to 5 peak sun hours are received by many Indian states. India experiences the longest summer days and most daylight hours. How much solar power output you can get with solar installation in India will largely depend on the average number of sun hours in your area.

Your solar system's ability to produce energy is influenced by a number of other variables in addition to how much sunlight it receives. These three factors are the kind of roof, how it faces the sun, and how much shade it receives. Despite unfavorable circumstances, like shading, you can still receive a sizable amount of solar energy output with the installation of high-efficiency solar panels.

3. Calculate and compare the price of solar panels in India

Purchasing solar panels and other necessary components accounts for a sizable portion of the cost of installing solar panels at home. The high initial investment in a solar PV system can be offset by the low long-term maintenance costs. Modern solar energy systems have minimal cleaning and maintenance requirements and are made to last for 25 years. Over the life of the system, very little variation in solar energy output is seen.

Calculate your typical daily energy consumption to determine the total cost of the solar panel installation. Refer to the information on your monthly utility bill that describes your energy usage. Choose a solar system size that will meet your daily energy needs by having an output capacity that matches.

A typical 5kW residential solar system costs between Rs. 63 and 71.4 per watt, or between Rs. 3,15,000 and 3,57,000 when installation is included. Before any government solar subsidies or other incentives, these prices represent the market.

4. Utilize the government's solar subsidy program.

The MNRE's Rooftop Solar Programme Phase-II, which was recently launched and simplified, encourages homeowners to upgrade their clean energy systems. Homeowners and housing societies are eligible to apply for a fixed solar subsidy aid for the installation of rooftop solar power plants.

The National Portal for Rooftop Solar streamlines, expedites, and increases transparency in the process of receiving subsidy benefits. The portal offers thorough details on eligibility requirements as well as the ALMM list of Authorized Models and Manufacturers of Solar Photovoltaic Modules. Additionally, a list of authorized solar vendors for the installation of solar plants is available.

What is a Solar Energy System?

A solar energy system is made up of 3 main components that decide the type and working of your framework:

• Solar Panel
• Solar Inverter
• Solar Battery

Solar Panels

Depending on the size of solar panels you select, the answer to the question "How much does it cost to install solar panels?" will vary. Wattage is a crucial factor in determining how much it will cost to install solar panels on a home. Customers typically choose solar panels with wattage ratings between 250 and 400 watts.

Depending on the type and model, solar panels typically cost Rs. 40,000 (or between 36,000 and 44,000). Solar panels come in monocrystalline, polycrystalline, and bicrystalline varieties.

1. Monocrystalline Solar Panels: Monocrystalline solar panels have a high efficiency rating of 17% to 22%, but they are very expensive. This type of solar panel typically costs between Rs. 43 and Rs. 63 per watt. Monocrystalline solar panel installation is more expensive, but it promises higher energy output per square foot area.

2. Polycrystalline Solar Panels:Solar panels made of polycrystalline material are the most cost-effective option for consumers due to their low manufacturing costs per panel. Poly solar panels cost between Rs. 30 and Rs. 36 per watt, despite being 15% to 17% less efficient than mono solar panels. Poly solar panels are a cost-effective way for consumers to outfit a solar energy system.

3. Bifacial Solar Panels: If you want your solar panel installation to produce the most energy possible, think about using bifacial solar panels. A bifacial solar panel can produce large amounts of solar electricity because it has solar cells on both its front and back surfaces. Bifacial solar panels cost between Rs. 37 and Rs. 52 per watt and have an efficiency rating of 20% or higher.

Solar Inverter

An essential component of a working solar energy system is a solar inverter. This device transforms solar-generated direct current (DC) electricity into alternating current (AC) electricity. Only AC electricity is suitable for powering buildings and commercial operations. Are you curious about the price of installing an inverter? A solar inverter's size is determined by the size of the solar system. As the solar power installation grows, the cost of the solar inverters rises.

Solar Battery

In order to improve the dependability of their solar systems, consumers decide to incorporate solar batteries into solar power plant installations. The power stored in solar batteries can help you meet your energy needs because solar panels go dormant at night. You can protect yourself from unpredicted grid outages and guarantee a constant supply of power with a solar panel + battery system.

Conclusion

It is worthwhile to install a solar system at home if you pay high energy prices in your area, and this is especially true while the solar subsidy program is in place. Solar is beneficial for the environment and your wallet in the long run, despite the sizeable initial investment. With a net-metered solar system, you can anticipate significantly lower monthly utility costs.

Lento solar panels are an exceptional choice for harnessing the power of the sun and promoting sustainable energy solutions. With their advanced technology, unmatched efficiency, and commitment to environmental preservation, Lento solar panels offer numerous benefits for both individuals and communities.

By investing in Lento solar panels, you are making a conscious decision to reduce your carbon footprint and contribute to a cleaner and greener future. These panels efficiently convert sunlight into electricity, enabling you to power your homes, businesses, or even entire communities with renewable energy. Not only does this result in significant cost savings on your energy bills, but it also allows you to become more self-sufficient and less reliant on traditional fossil fuel-based power sources.

Lento solar panels are designed with durability and longevity in mind, ensuring a reliable and consistent energy generation for years to come. Their cutting-edge technology maximizes energy production, even in challenging weather conditions, making them a reliable source of power in various climates.

Moreover, Lento's commitment to quality and customer satisfaction is evident in their rigorous testing and certification processes. You can have peace of mind knowing that you are investing in a product that adheres to the highest industry standards and undergoes thorough quality checks. Additionally, Lento provides excellent customer support and comprehensive warranties, ensuring that you receive the necessary assistance throughout your solar energy journey.

Beyond the individual benefits, the widespread adoption of Lento solar panels contributes to a more sustainable and resilient energy infrastructure. By choosing clean energy alternatives, we collectively reduce our reliance on fossil fuels, decrease greenhouse gas emissions, and mitigate the impacts of climate change. Embracing solar power not only benefits us today but also creates a brighter and more sustainable world for future generations.

Frequently Asked Questions

How much would it cost to install solar panels? 

Several factors influence the solar system installation cost. For a basic 1 kilowatt solar system, the initial installation costs start from Rs. 75,000 and go higher based on the type of solar components and the mounting module used. 

How much can you save on utility costs using solar?

Considering that you pick the right system size, you can save up to 90% on your energy with solar panel installation. However, know that there will be seasonal impacts on your savings. The winter season and rainy days influence the performance of your solar panels. During spring and summer, you are likely to see maximum energy output and, therefore, savings. A solar installer can help you track your monthly energy output and savings using smart monitoring systems.

How many solar panels are required in a solar energy system?

The number of solar panels needed impacts solar power plant installation costs. On average, most homes need between 10 to 20 panels to meet their power demand completely. When shopping for solar panels, consider the wattage rating. Solar panels of higher wattage reduce the number of solar panels needed to put together a solar system.

Which state has the lowest solar panel installation cost in India?

The factors influencing the home solar installation cost vary across all states. The cost variation largely depends on solar system size, labour costs, the size of mounting structures, and the type of solar components.

Are there additional costs associated with solar panel home installation?

In addition to the obvious expenses, installing and maintaining a home solar energy system involves other costs. The common costs that consumers must keep in mind when planning for solar panel installation in India include:

• Net metering costs
• Solar inverter and battery replacement costs (post the warranty period)
• Solar panel cleaning costs
• Maintenance costs
• Roof repair costs (recommended before solar panel installation)