How much do solar panels cost?
Electricity prices are increasing every year – but solar panels are getting more and more cost effective.
Solar panels are becoming more cost effective with every passing year. Advances in technology, ongoing incentives from the Australian government, plus the widespread recognition of the long-term savings and wide-reaching environmental benefits of solar energy are contributing to Australia being a world leader in solar installations, and South Australia becoming a world leader in home solar panel take-up per capita.
The cost of installing solar panels on your home depends on a number of factors, including what you’re trying to achieve with solar panels, how many solar panels you’ll need to achieve this goal, and what needs to be done to install your solar panels safely and in a way that you can rely on them for years to come.
How is the price calculated?
We calculate the price of your solar panel system based on an in-depth analysis of:
- Government incentives and schemes
- Installation costs
- Quality, type, and number of solar panels
- Quality, type and size of inverter
- Rail, racking, and bracketing systems required for your roof type
- Height and accessibility of your roof
- Components and installation quality
- After-sales customer service and support
If you’re also looking for a battery storage system with more in-depth design requirements, you’ll also need to factor in the additional cost for batteries and associated equipment and installation requirements.
Other costs could include changes to your electricity meter, alterations to your switchboard, provisions for safe roof access for the installers, installing panels across multiple roof areas, longer than usual cabling, removing any trees or shading and preparing your roof for installation.
Read our blog, Investing in solar panels? Consider these 3 areas first to find out more about things to consider when investing in solar panels, including the costs and potential savings.
Solar panels costs vs savings
As with any major investment, it’s important to consider not only the upfront cost of solar panels, but the long-term savings you could recoup.
At today’s standard energy rates, many Australian households can expect to save at least $20,000 on their energy bills over the life of their solar panels, if not more. Further, a well-designed solar panel system matched to your needs could pay itself back in as little as 3 to 5 years, representing an ongoing yearly 20 to 30% return on your investment.
Buyer beware: cheap solar panel providers often cut corners to reduce costs and deliver their “too good to be true” prices. You could be sacrificing your potential long-term savings by choosing a cheaper product – and you could be putting your family’s safety at risk with substandard electrical products or installation.
Read our blog, The Hidden Costs of Cheap Solar Providers and learn what to look out for.
Find out what you could save with our solar calculator
How can I pay for my solar panels?
You may be keen to look at finance options for your solar energy system.
The savings from installing solar panels on your home can often exceed the costs – plus you get all the great benefits that solar panels provide for your home: clean, green, renewable energy.
Add to your home loan
Often, the easiest and cheapest way to finance your solar panels could be to extend or redraw on your home loan. The interest rates are generally lower, your credit score has already been assessed and you’ve already established a solid relationship with a lender.
Other sources of finance for your solar panels are available, including credit products. While ZEN is not a credit provider, we are able to put you in contact with the firms that ZEN is familiar with to assist you in this approach.
Please note that ZEN Energy is not licensed to provide credit or credit assistance, and ZEN Energy does not recommend any particular credit contract. ZEN Energy receives no financial benefit from any credit providers for any customers referred to them.
Need advice or assistance?
Request a callback from our team.
Take advantage of government incentives: about the Small-scale Renewable Energy Scheme
The Small-scale Renewable Energy Scheme encourages investment in renewable energy by offering financial incentives for people and small businesses to install solar panels.
Eligible solar panel systems under 100kW in size are issued with small-scale technology certificates, or STCs. These STCs can be redeemed for a dollar value at the point of sale, effectively reducing the upfront cost of your solar panel system.
There are only three criteria that need to be fulfilled for your solar panels to be eligible for STCs and their financial benefits:
- Your solar panel system must be less than 100kW in size;
- Your system must be installed by a Clean Energy Council accredited installer; and
- You must use solar panels and inverters that are approved by the Clean Energy Council.
STCs were established as part of the Australian government’s Renewable Energy Target, and is set to be phased out by 2030 – which makes now a great time to invest in solar panels for your home and maximise the cost savings. For more information, visit the Clean Energy Regulator website.
All of ZEN Energy’s panels and inverters are approved by the Clean Energy Council, and we only use installers that are Clean Energy Council accredited. If you buy a solar panel system from ZEN Energy which is less than 100kW in size, you can rest assured that it will be eligible for STCs – and we will handle the paperwork for you.
Learn how else you can save with solar panels
Find out how solar panels could reduce your energy costs
With government incentives, competitive prices around the industry, finance options, and the long-term benefits of investing in solar energy, the cost of solar panels is far outweighed by the potential savings they can deliver for you, your family, or your business. Install solar panels with an experienced provider like ZEN Energy to access years of ongoing savings that you can rely on.
ZEN Energy is proudly Australian owned and based, and has been since our beginnings in 2004.
No lock-in contracts
When you install a solar panel system with ZEN Energy, we won’t lock you in to any ongoing costs, contracts or agreements.
Your unique solution
We’ll design a system especially for your needs, to maximise the savings you’ll receive and reduce your energy costs.
Learn how much you could save with solar panels from ZEN Energy. Request a quote today!