How Much is a Solar Panel in 2023?
At this point, you may have already seen homes install solar panels, or you’ve heard of malls or businesses that have made the switch to clean and renewable energy. And the savings and feedback are no doubt enticing, but how much does it actually cost to buy that solar panel?
Before we go through the figures and the actual price, we would like to highlight that solar panels alone do not work. To run your home with the power of the sun, you will actually need an entire Solar Photovoltaic (PV) System or as we also call it some times, a Solar System (Yes! This is technically correct). A Solar PV System includes the Solar Panels, the Inverter/s, the wirings, and other materials to make it work, so, it is a lot more technical than your plug and play new flat-screen television. And we don’t recommend you to do it yourself or to DIY your own setup. For your safety, it’s best to still consult professionals!
Now, how much does a solar panel…or a Solar PV System cost? In average, it is at around PHP70,000-P90,000 for a one (1) kilowatt-peak (kWp). So, if your home will require a 5 kilowatt-peak (kWp) system, it will cost you PHP350,000 to P450,000 for a complete system.
Once you start canvassing, you’ll find out some companies offer it cheaper, while others are more expensive. But what are the differences between these Solar PV Systems?
Skills and Experience
Usually, when people pay for something, it is often overlooked that there are people or labor that comes along with the product they are getting. And frankly for us in Buskowitz Energy, one of our cost-drivers is the skill and the work experience of our people. Our installers or electricians have been in the industry for years and have been trained, and we have an in-house Professional Electrical Engineer (PEE), Electrical Engineers, and Civil Engineers all working together to ensure every project is of the highest quality.
For something that involves your home and the safety of your family, it is best to trust those who are professionals in their fields already!
Much like in any proposals, it’s no surprise if there are any hidden costs. So, it’s best to discuss your requirements, and to ask and clarify before closing the deal! Other than the delivery fee and government taxes, there’s a lot more you may want to ask, so make sure to check out our article about that!
With the different brands in the market, companies have different preferences, too. As for us in Buskowitz Energy, through several projects in the past, we’ve come to settle with Canadian Solar. With the minimal issue we’ve experienced with this brand, it’s also consistently considered as a Tier 1 Brand of Panel by the Bloomberg New Energy Finance or BNEF through the years.
Warranties vary per company, too, or for the brands they use. If you’re not keen on checking its tiering or reading further about its reviews, warranties is an easy indicator whether it’s a trusted brand or not. Usually for Solar Panels, a good brand will provide you a 20-25 years of warranty.
Installing a Solar PV System may not be cheap, but with the continuously increasing electricity price and the earth becoming more and more warmer, it is a really sustainable and a good long-term investment! But, of course, researching can help you get the best out of your money, and we hope we’ve made this worth a read!
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