A big challenge in installing a solar PV(Photovoltaic) system is identifying your consumption needs. Traditionally, solar sizing has been majorly dependent on the amount of electricity consumption. A larger system is recommended for higher consumption needs while a smaller one would be ideal for lower consumption.
But recent studies show that larger solar panels are more cost-effective and efficient compared to smaller systems no matter the consumption levels.
Bigger Solar Panels are Now Cheaper
There has been a significant drop in the prices of large solar panels. The prices for large panels have come down by half since August 2012. The prices of smaller systems have reduced only by a quarter in comparison.
Although prices depend on the panel’s quality and geographic location, larger systems definitely cost-effective.
Larger Systems are Convenient to Install
It is easier to install bigger solar panels as they only need more new panels. Also, installers are becoming more familiar with larger solar panels as they are being installed more often than smaller systems given the recent reduction in price. This familiarity reduces the design time for customised solutions, leading to faster installation. The reason why we don't normally use larger panels on residential is home installs are usually carried up a ladder. This is different in commercial locations where the panels are craned or placed on scissor lift.
Bigger Systems Give Faster Payback Time
Payback Time is the time within which your solar system gives you gains on the cost of installation. Obviously, the lesser the number of years the better the Payback Time.
A Payback Time of less than 10 years is considered profitable as you get to see a return on your investment before the solar system begins demanding expenses such as inverter replacement.
High-quality solar panels boast a life of 20 years or more, which means the Payback Time is better for larger systems. Studies show that a 5kW solar energy system delivers a Payback Time ranging from 4 to 8 years, depending on the amount of power consumption.
The Payback Time is a lot faster for units with more consumption. Smaller solar panels such as a 2kW system do not deliver a quick payback time.
Larger Panels Offer Cost Benefits for Low-Consumption Customers Too
Larger solar panels deliver more benefits than smaller systems. But, how will a larger panel help when your consumption needs can be satisfied by a smaller one? Would installing a larger panel benefit in such cases?
The extra energy can be sold to satisfy the power requirements of electricity grids. The government of Victoria recently increased the tariff for feed-in solar traffic, which means that you’ll be able to realise cost benefits on your larger solar panel within 4-5 years.
Grow Energy can be a trusted partner for all your solar energy needs. We offer customised solar solutions for residential and commercial needs at affordable prices. From solar panel installation to electric bike batteries, storage batteries and smart monitors, we have a range of renewable solutions for you.
You can explore and experience our entire range of solar solutions at our showroom in Victoria.
Call us at 03 8820 8133 for more information.