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Solar Prices in India: Know its Price Sensitivity

The price of solar panel installation price in India might vary in every state. But, through this article, we will try to give you an idea of the average cost that you can incur while purchasing your solar energy system. As we delve into the realm of solar energy in India, we have to understand the cost related to every component and determine the right unit for your home or business. With each passing year, as more individuals and industries embrace solar technology, we witness a gradual but significant shift in the dynamics of energy consumption. Through this article, you will understand how you can make profits while reducing your energy bills with the solar energy revolution

Navigating the Average Cost You Might Pay for Installation

When researching the India solar power market, we must consider various components that contribute to the overall expense. 

In the following section you can find the individual prices of each component:

Buying the Solar Panels 

The cost of solar panels can vary depending on factors like brand, quality, and efficiency. On average, you can expect to pay between ₹8,000 to INR 42,000 per kilowatt (kW) for solar panels.

Take a look at some famous solar panels in India:

  • 12V/105W Polycrystalline: ₹8,800
  • 12V/165W Polycrystalline: ₹13,900
  • 24V/330W Polycrystalline: ₹24,000
  • 24V/445W Mono Perc Halfcut: ₹35,000
  • 24V/540W Mono Perc Halfcut: ₹42,000

You need proper Inverters for Power Conversion 

As you might know by now, inverters are crucial for converting the direct current (DC) electricity generated by solar panels into alternating current (AC) electricity used in homes and businesses. Prices for inverters typically range from ₹16,000 to ₹80,000. Based on the capacity of the unit the price will fluctuate. 

If you purchase a 1 kW unit you might have to pay something around ₹16,000, but if you get a higher capacity unit the price will increase. Additionally, if you want to purchase the smart inverter that will monitor the performance of the solar panels, adjust them if needed, and perform other such advanced tasks, then the price obviously will be much high than this.

Buying Wires and Accessories for Connection and Stability

Additional components such as wires, connectors, mounting structures, and other accessories are necessary for the proper functioning of the solar system. The mounting frameworks will cost somewhere between ₹10,000 to ₹50,000 depending on how sturdy and complicated the system you install. The cost might also increase with the number of panels you plan to install.

Here is a list of cables and other elements available in India for connecting the solar panels to the inverter and your electrical system:

  • Solar MC4 Connector: ₹25 per pair
  • Solar MC4 Wire Connector with Spanner: ₹447
  • TUV Protected Solar DC Cable XLPO: ₹1,549
  • Inbuilt AC MCB in Solar ACDB Single Phase: ₹1,710
  • Roof Safety Line: ₹900 per meter
  • Solar 6.0sqmm DC Cable: ₹1,999
  • Solar 4.0sqmm DC Cable: ₹1,299
  • Y Copper Bur Aluminium Lay In Lugs: ₹48 per piece

The Labor Cost Involved in Installation 

If you want to support the solar energy revolution, consider the labor charges for installing the entire solar energy system. The experts will reach your property, mount the system equipment, and make the necessary connections to make the solar system usable. 

The labor cost might range from ₹2,000 to ₹3,000 per kW, however, if the installation process becomes complex and difficult the charges will increase. So, ensure you offer a well-lit working space, that is less hazardous for the installers.

Based on the individual cost of units, below is a table with a cost estimation for different-sized units.

Size Price List (Average Cost)
1kW Unit ₹75,000 to ₹85,000
2kW Unit ₹1,50,000 to ₹1,70,000
3kW Unit ₹1,89,000 to ₹2,15,000
4kW Unit ₹2,52,000 to ₹2,85,600
5kW Unit ₹3,15,000 to ₹3,57,000
10kW Unit ₹5,31,000 to ₹6,07,000

Table: Approx Installation Price List for Multi-sized Solar Power Systems

It’s essential to consult with a reputable solar provider to get an accurate estimate tailored to your needs and budget. Remember, while the initial investment may seem significant, the long-term savings on energy bills and potential government incentives can make solar power a financially sound decision in the long run. The solar revolution in India is making it possible for every Indian to opt for this technology.

Ways to Reduce the Initial Price of Solar Panels

As you consider embracing solar power in India, it’s essential to explore the array of government schemes that can significantly ease the financial burden of installation and make this transition more accessible than ever before. Through various subsidies and incentives, the government is paving the way for individuals and businesses to embark on their solar journey with confidence. 

You can benefit from the following schemes:

You can Avail Subsidies for Installation

The government offers substantial subsidies that can drastically reduce the initial cost of installing solar panels on your property. These subsidies serve as a crucial incentive, making solar power more affordable and attainable for a broader segment of the population.

Enjoy Long-Term Savings on your Electricity Bills

While the upfront cost of solar installation may seem daunting, it’s essential to recognize the long-term savings it offers. By harnessing the power of the sun, you can significantly reduce your reliance on traditional grid electricity, resulting in substantial savings on your electricity bills over time. In fact, the savings accrued from lower electricity costs can often outweigh the initial investment in solar panels within a few years.

Knowing about Grid Connectivity and Net Metering

One of the most significant advantages of the solar revolution in India is its integration with the existing electricity grid. Through net metering policies, surplus electricity generated by your solar panels can be fed back into the grid, allowing you to earn credits or even monetary compensation for the excess power you produce. This provides a financial incentive for investing in solar and contributes to the overall stability and sustainability of the grid.

The government has a huge role to play in trying to make electricity consumption in India free with its latest initiatives. Taking help from them will allow us to get the system we need for our houses and businesses. If we had fewer funds we might had to compromise, but now with the government’s help, you can get the most efficient system according to your energy requirements.

Concluding to

With each passing day, more individuals and businesses are recognizing the immense benefits of harnessing solar power. They safeguard both their wallets and the environment by transforming to solar. As we look ahead, envision a future where solar technology becomes increasingly ubiquitous, integrated seamlessly into the fabric of everyday life.

Furthermore, as the solar energy revolution and technological advancements boost innovation, we can expect a gradual but significant reduction in the prices of solar components. This downward trend in prices will make solar power even more accessible and affordable for all, further accelerating its adoption across the country. As a result, you can avail affordable maintenance services in the future. 

 

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