We Indians want to save money in every situation. Whether it is fair expenses, grocery, shopping, etc, we can’t do magic for you, but yes, we do have a solution for you in one thing: electricity bills. Let’s know more about from Rishika Kraft Solar that how you can save your money on this.
In India, solar energy is becoming very popular as the country moves towards using more sustainable power sources. This change to eco-friendly solutions makes our world greener and helps the solar industry grow. More homeowners are interested in installing solar panel systems because they care about the environment and want energy independence. However, the cost of installation is an essential factor. In this guide, we will explain the factors that affect the price of installing a home solar panel cost system in India in 2024.
Know About the Basics for Home Solar Panel Systems
Solar Panels- The solar panels cost is a big part of the total expense. Monocrystalline panels are more expensive per watt than polycrystalline or thin-film options. On average, 1 kW solar panels cost between INR 37,500 and INR 42,000, depending on the wattage and type.
Inverters- Inverters also include the cost. Micro inverters are more expensive than string inverters. The cost of inverters can range from Rs. 20,000 to Rs. 80,000 or more, depending on the type and capacity.
Mounting Structures- Ground-mounted systems usually are more expensive than rooftop installations. The cost for mounting structures can range from INR 10,000 to INR 50,000, depending on the complexity and type.
Batteries- If you want to add batteries, they will increase the installation cost. The price of batteries can vary widely, ranging from INR 20,000 to over INR 1 lakh, depending on the capacity and brand.
Solar Accessories- Additional accessories like AC and DC cables, conduit pipes, lightning arresters and earthing rods also affect the installation cost. The proper fitting of cables ensures the safe transmission of electric current. Lightning arresters should be at least 1 meter above the panels and earthing rods must be spaced 2 to 3 meters apart. These overall changes will affect the cost.
DC and AC Combiner Boxes- DC cables carrying the DC need to be isolated in a DC combiner box, which is essential since these cables can carry up to 1000 volts. MC4 connectors are used for this purpose. Similarly, AC cables need isolation in an AC combiner box to protect against electrical surges. The length of the wires can vary greatly depending on the height of the building, which will also affect the total installation cost. For example, a three-storey home will need more than twice the amount of cable as a single-storey home, leading to higher costs.
Average Solar Panels Cost of Installation for Home
You will find affordable and high-quality solar panel installation services at Rishika Kraft Solar. They have a competitive pricing from others, making them an excellent choice for your solar panel needs.
Price List According to KW
|
Solar System Size |
Estimated Price Range |
|
1 kW Solar System |
₹50,000- ₹70,000 |
|
2 kW Solar System |
₹1,40,000- ₹1,55,000 |
|
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 |
₹3,50,000-₹3,95,000 |
|
10 kW Solar System |
₹4,50,000-₹5,20,000 |
|
15 kW Solar System |
₹8,00,000-₹9,00,000 |
|
20 kW Solar System |
₹12,00,000-₹25,00,000 |
Factors That Affect the Solar Panel Costs in India
- Government Incentives and Subsidies
- Location
- Cost of Licence
- Capacity and Size
- Brand
- Tax Incentives
- Additional components and Equipments
Should You Install Solar Panels at Home?
We have already discussed the basics above; now you must consider whether installing it will be suitable or not at your home. Let’s have a look at this- solar panels can be a good investment if your home meets the following criteria.
Does Your Home receive a Lot of Sunlight?
If your house is located in an area where sunlight reaches properly, then it will be a great investment for you. It’s crucial to understand that if your home is covered with lots of trees, it will not work. This awareness will help you make an informed decision about solar panel installation.
Do You Have Proper Space on Your Roof:
If you want to install solar panels, you need plenty of space and no disturbance of any chimneys or other fixtures. Installing solar panels on roofs with steep slopes is challenging as it costs a lot of money and requires more hard work.
Are You Paying High electricity Bills:
This is one of the main reasons for shifting to solar panels. This will cover the main concern of Indian families in reducing the monthly cost. A recent survey found that installing solar panels on your roof can lower your electricity bill by 80-90% each month. For example, a 5kW solar system can produce about 600 units of electricity and save you Rs. 4,200 per month. These potential savings should give you confidence in the financial benefits of solar panels.
