The Solar Energy Industry has gained remarkable momentum in India as the nation strives to transition towards cleaner and more sustainable sources of power. This transition reflects the nation’s combined efforts to embrace eco-friendly and sustainable power alternatives. The increasing momentum within this industry heralds a promising future, steering the nation towards a more sustainable and greener energy landscape. As solar technology continues to become more accessible, it is important to understand the pricing system of different types of solar panels. Explore this blog to understand solar panel price, including details about the leading solar panel manufacturers in India. This blog will tell you all that you need to know about the pricing so that you can make an informed decision for your sustainable energy choices. Let’s get started.

Average Cost of Solar Panel Installation for Home

Usually, a solar system is installed in a home and it includes a PV Module, Mounting Structure, Solar Inverter, Solar Battery, Battery Rack, ACDB, and DCDB Wiring. Here is a list of prices for different solar systems to assist you in selecting the most suitable option based on your solar power needs.

Solar System Size	Estimated Price Range
1 kW Solar System	₹65,000- ₹75,000
2 kW Solar System	₹1,40,000- ₹1,50,000
3 kW Solar System	₹1,80,000- ₹1,90,000
5 kW Solar System	₹2,50,000-₹2,70,000
7.5 kW Solar System	₹3,70,000-₹3,90,000
10 kW Solar System	₹4,90,000-₹5,10,000
15 kW Solar System	₹7,00,000-₹7,50,000
20 kW Solar System	₹9,00,000-₹10,00,000

Read also: Can Your House Run on a 5kW Solar System?

Key Factors that Influence Solar Panel Prices in India

Here are some key factors that influence solar panel prices in India:

i) Capacity and Size

The size and capacity of your solar system play an important role in determining its price. Larger solar systems with higher power output are usually more expensive. When deciding on the size of your solar installation, consider your energy consumption and the available space for the panels.

ii) Government  Incentives and  Subsidies

The incentives and subsidies provided by the Indian Government can significantly reduce the cost of purchasing and installing solar panels cause they are provided to promote solar energy. Therefore, it is essential to take advantage of these schemes to make solar power more affordable. 

iii) Location

The geographical location of your installation can influence the price of solar panels. Solar Irradiation, which measures the amount of sunlight received, varies across India.  Areas that receive more sunlight are more beneficial for solar power generation, potentially reducing the number of panels and consequently, the cost. 

iv) Additional Equipment and Components

Solar Panel Systems require additional components such as inverters, batteries, and mounting structures. These additional elements can add to the overall cost. 

v) Brand

The brand type can also affect the price. If you purchase a solar panel from a reputed brand, the solar system will likely be more expensive than others. 

vi) Tax Incentives

Taxes can be charged for installation in specific areas. This can increase the price of solar panels in India.  

vii) Cost of License

Different regions have different regulations for installing solar panels. While one area might require an average price for solar panel installation, the other might ask for more. Market Value – If there is a demand for a specific model in the market, the price of solar panels in India for that model might surge.

The Expected Average Price of Monocrystalline, Polycrystalline and Bifacial Solar Panel (per watt)

Servotech provides polycrystalline, monocrystalline, and bifacial solar panels in different power capacities. Here is a list of the average expected price per watt for the polycrystalline, monocrystalline, and bifacial solar panels available- 

The Expected Average price of Polycrystalline Solar Panels (per watt)

• 50 Watt – ₹32
• 100 Watt – ₹31
• 150 Watt – ₹30
• 200 Watt – ₹29
• 250 Watt – ₹28
• 315 Watt – ₹26

The Expected Average Price of Monocrystalline Solar Panels (per watt)

• 415 Watt – ₹25
• 545 Watt – ₹24
• 595 Watt – ₹24

The Expected Average  Price of Bi-facial Solar Panels (per watt)

• 545 watt – ₹25
• 595 watt – ₹25

Conclusion

In the ever-evolving landscape of solar energy in India, understanding the dynamics of solar panel pricing is crucial for making informed decisions. The prices of Solar panels are never the same. They keep changing. Hence, the prices of solar systems keep changing too. Always confirm the pricing with your EPC solar installation company.

Read also: Best Solar EPC Companies in India 2023