The Cost of PV System Components

Solar power is a reliable and renewable energy source that has no carbon emissions and thus is friendly to the environment. In recognition of this, the government has various incentives such as Green Deal which was instituted in 2012 to help homeowners to affordable make their homes energy efficient

Additionally, there is the Feed-In Tariff (FIT) scheme which offers homeowners payments for the electricity they generate and feed back into the grid. All these make it worthwhile for homes to put up Photo Voltaic (PV) solar systems and reduce their energy bills.

While many solar panel installation companies will provide quotations for how much it will take to put up a complete PV system, it may get too technical for the average Joe to understand all he technological nitty-gritty. Thus, here is a simple explanation on what you will need to purchase and install and how much it is likely to cost you.

Cost of EquipmentPurchasing the equipment will take up about 45% of the

total costs of setting up your complete PV system. Of the total equipment cost, over 30% will go to the purchase of the solar panels. For residential homes, the cost of solar panels can range between £2,500 and £7,000.

The solar panels produce DC current but you will need AC current to power your appliances and to connect to the grid. Hence, you will need a power inverter which will cost you anywhere between £600 and £2,000. Depending on your house, roof space, garden space, and orientation e.g. house facing south, there are various mounting equipment you will require for your solar panels.

The most common mounting hardware used include clips, rails, and stand-offs. For a home with not many special mounting needs, the cost of the mounting gear will range from £450 to £1,200.

All these will requier sufficient wiring expertly done to connect everything. For this, you will need electric wires, wiring boxes, conduits, clamps, disconnects, and various other electrical components. The total cost of these for a typical home will range between £500 and £1,500.`

Cost of Installation and PermittingSetting up a PV system correctly requires expert technicians

who are certified by Microgeneration Certification Scheme (MCS). The installation and processing of all the necessary permits takes up about 25% of your total costs. Installing the system using a reliable certified company will cost between £1,000 and £2,500 depending on the number of panels, size of home, and various other factors. You will also need to pay permit fees and inspection fees which may cost another £1,500.

Operational Costs

When asking you also need to factor in the costs of operati how much does a solar panel cost on. For a home, the cost may include repairs and maintenance costs. It may also include the cost of equipment used to monitor or measure amount of electricity generated and that which is fed into the grid. For a firm which distributes the generated electricity, there will be additional sales and marketing costs. Operational costs can take as much as 30% of the total costs.

Conclusion

Setting up a complete PV system is not just about purchasing solar panels. The costs include purchasing, installing, and licensing for all components in the PV system.