The cost calculation of solar power system needs to involve a lot of content, such as the initial equipment investment, installation costs, design costs, and later operation and maintenance costs, etc., the following are the calculation details.
1. Solar System Design Cost
A proper design plan ensures that the solar power system is most efficient in terms of power generation and yields a higher return on investment. If it is the design of home solar power system, then the structure is relatively simple, you can contact us to get a free design program. If it is a large-scale solar plant, it needs to be calculated and designed in detail according to the solar installation area, installation location, budget and so on.
2. Solar Panel Cost Calculator
Photovoltaic (PV) modules are an important part of the system, and their price fluctuates with the price of monocrystalline silicon raw materials. The current price of solar panels is about $0.102/watt.
Solar panel cost = solar panel price per watt x the number of watts to be installed.
3. Solar Inverter Cost
Solar inverters are available in different power, off-grid, on-grid and hybrid types with a big difference in price, feel free to contact us for a quote.
Solar Inverter cost = inverter price x number of installations required
4. Solar Mounting Racking Cost Calculation
The main types of PV mounts are tilted roofs and horizontal roofs or ground mounts. PV mounts for tilted roofs are simple to design and cost less. Horizontal roofs are more costly because they need to be designed with an optimal inclination according to the latitude of the installation area, and sometimes the overall height needs to be raised to ensure that the PV panels are safe and not obstructed.
For example, for a 550watt solar panel, the cost of mounting is about $20 per panel for a tilted roof. For a horizontal roof, the cost is about $25 per panel.
5. Cost of Solar Cables and Distribution Equipment
This includes 4mm² or 6mm² PV DC cables, PV converter boxes, AC distribution boxes, battery cables, DC circuit breakers, AC cables, meters, transformers (required in areas with unstable mains voltages), and so on.
Not all of the above equipment is needed in all systems, and the specifications are many and varied. They need to be calculated and quoted according to the project requirements.
6. Solar Battery Cost Calculator
In case of off-grid or hybrid solar systems, the battery is an important component and accounts for a large part of the Total cost of the system. Solar batteries are mainly made of lithium iron phosphate (Li-FePO4) batteries. The current price of Li-ion batteries is about $0.12/wh, and its price varies with the change of the battery cell.
7. Solar Installation Cost
It mainly consists of the cost of installing the PV racking and the cost of installing and commissioning the circuit. If it is a small household system, you can consider installing it yourself. Large power generation systems will need to be installed by a professional installation company. The cost of workers varies greatly in each country and region, so the installation cost needs to be consulted with a local installation company.
8. Maintenance Cost
This primarily includes periodic inspections of system equipment, cleaning of PV panels, and repair and replacement of damaged or malfunctioning components. The reference price is $0.014/watt/year.
9. Other Cost
If it is a large photovoltaic power station there are booster equipment costs, transportation costs, construction costs, project management costs, project investigation costs. In total, the equipment and installation costs stand at more than 80% of the overall investment, construction and other costs are less than 20%.
9. Solar Power Cost Trend Projections
At present, the prices of photovoltaic panels and lithium batteries have continued to go down in the last two years. With the innovation of technology, the power generation efficiency of photovoltaic panels will be higher and higher, and the energy density and cycle times of lithium batteries will be higher and higher as well. The cost will be lower and lower.