How much does it cost to install solar panels on a property?

The constant development of photovoltaic energy is making it increasingly possible for more homeowners to 'live off the sun' nowadays. The price of solar panels has experienced a reduction over the years, opening the door to self-consumption. You probably won't be too surprised by this, but do you know how much it costs to put solar panels on your house? Read on and find out if your land or your roof is ready for such an installation. Keep your calculator handy!

How solar panels work

As you qill already know, solar panels absorb solar radiation to transform it into consumable energy. They do this through so-called cells. These are small cells that usually contain silicon to promote the creation of an electric field in the solar module.

For a domestic installation for the use of solar panels, it is necessary to factor these four components into your budget:

1. The solar panels themselves.
2. The inverter. This feature is in charge of translating the direct current into alternating current. The most used (and economic) is the String.
3. Structure. You have a fixed structure or one with tracks. The latter follows the position of the sun and is ideal for ground installation.
4. Measuring equipment. This calculates the energy produced by your installation and assesses its performance

Is your home suitable for solar panels?

These are the most optimal conditions for the installation of domestic solar panels:

1. Orientation towards the south: this is the best possible situation to get maximun sunlight. Even if this isn't the case, you will still reduce your electricity bill.
2. Inclination between 15º and 45º. If the angle of your roof is not between these figures, structures should be placed accordingly to achieve this.
3. Regular and square terrain. As for the size, about 40 square metres of roof is enough.
4. Shadow-free zone. If there are no buildings around and no trees, then you're building is even more suitable.

These points define an idyllic situation. Even if all the requirements are not met, installing solar panels on your house could still be equally profitable because the current price makes it easier to get a return on your investment, not to mention the added value it gives to your home.

We are, therefore, dealing with a great financial product, whatever the geographical location. However, it is not in vain that in Spain the use of sunlight is considerably high. We will go into these aspects in more detail below.

How to calculate the profitability of the installation of solar panels at home

To determine the degree of profitability, you must take into account the amortisation period. You have to calculate the final cost and benefits per year, taking into account the gross cost of the installation and the tax deductions. The equation also includes your average monthly electricity consumption, as well as the estimated annual production of your solar panels.

With all the data to hand, proceed with the calculation. First, subtract the rebates from the price of the installation. Divide this final cost by the annual financial benefit. This is determined by taking into account the benefits mentioned above: the electricity savings and the increase in the value of your property. The result will correspond to the number of years you need for the investment to be returned.

How much does it cost to install solar panels

Up until now, the costs of a photovoltaic system at home have been specified. But let's talk about the prices of the panels in question, which are calculated in terms of cost per watt, usually between 600 and 800 euros per square metre. That is the scale used in the market. This amount decreases according to the extent of the installation of polycrystalline panels, the most suitable according to the climate in Spain, but it rises if you add to the list solar batteries and other related elements.

Other factors influence the fixing of the costs, for example, the use you make of the photovoltaic panels. Do you simply want to use them to connect small appliances? In that case, you will need less power and fewer panels than if you use them to heat your whole home.

To get off to a good start, find out your minimum expenditure on electricity so that you don't overproduce. If it is around 200 euros a month, you would be saving around 45,000 euros during the life of your installation (around 25 years). Bear in mind that a complete installation of this type in a villa would cost around 11,000 euros. Therefore, although the initial outlay may seem high, the profitability is obvious. Without a doubt, the cost is lower than if we opt for installations of other renewable energy sources such as hydro or wind power.

It is important to note that the price of this type of technology has fallen by more than 70% in the last decade. If we add this figure to the increase in the electricity bill at a faster rate than expected by users, the profitability is evident.

Recommendations for choosing economical solar panels

Finally, have a look at these simple tips to help you get your hands on affordable solar panels:

1. Don't settle for the first option. Go to several installers to compare budgets. This way you will avoid inflated estimates.
2. Consult expert engineers and consumer opinions on equipment and manufacturers. Maybe your case doesn't require an investment in top-of-the-range equipment.
3. In addition to the price, take into account other advantages associated with costs. Research the financing possibilities and the warranty. You should also study the attention that the company in question gives you before and after installation.
4. Finally, make sure that the panels you purchase are CE certified. If they do not comply with the safety regulations, the cheapest option could turn out to be the most expensive.

Now you can have an idea of how much it costs to put solar panels on your house. Get them installed and don't worry about your electricity bill while you help take care of the planet!