How Much Do Solar Panels Cost in New Zealand?
Switching to solar energy is a wise investment that can lead to significant savings on your energy bills. At Sunshine Solar, we understand the importance of making informed decisions about solar energy solutions. This guide will break down the costs associated with solar panel installation in New Zealand and show you how to maximize your investment.
Switching to solar energy can lead to substantial savings on your monthly power bills. At Sunshine Solar, we offer tailored solutions for different energy usage levels, ensuring that you get the most out of your investment. Here’s a breakdown of potential savings based on your power usage:
Low Power User
- Monthly Power Bills: Below $100
- System Cost: Under $10,000
- Ideal For: 1-2 people at home, using heat pumps or electric hot water. The system is expandable for future use, ensuring flexibility as your energy needs grow.
Average Power User
- Monthly Power Bills: Below $200
- System Cost: $10,000 – $20,000
- Ideal For: 2-4 people at home. This system can include a battery and is also expandable for future use, providing a balanced solution for moderate energy consumers.
High Power User
- Monthly Power Bills: Above $200
- System Cost: $20,000+
- Ideal For: 4+ people at home, with multiple forms of heating and a spa. This system is always expandable, accommodating high energy demands and ensuring you never run out of power.
Find Out How Much Solar Could save you
Cost Breakdown of a Solar System
Understanding the nz solar panels cost helps you make informed decisions. Solar panel cost varies based on several factors, including system size and installation complexity.
1. Panels (25.2%): Panels, making up 25.2% of the cost, convert sunlight into electricity. Their quality and type affect overall efficiency and cost.
2. Installation (25.8%): Installation is the largest cost at 25.8%, covering labor, mounting equipment, and materials for safe, optimal setup.
3. Inverter (18%): Inverters account for 18% of the cost, converting DC electricity from panels into usable AC electricity.
4. Balance of System (BOS) (14.4%): BOS, at 14.4%, includes additional components like wiring, switches, and monitoring systems, ensuring smooth operation.
5. Freight (9.4%): Freight costs make up 9.4% and cover transporting the solar panels and equipment to your location.
6. Service (7.2%): Service costs, at 7.2%, include maintenance, monitoring, and post-installation services to ensure system efficiency.
Panels (25.2% of solar system cost)
The solar panels themselves constitute 25.2% of the total cost. These are the most visible component of a solar power system and are responsible for converting sunlight into electricity. The type and quality of the panels can significantly influence the overall cost and efficiency of the system.
Installation (25.8% of solar system cost)
Installation costs account for the largest portion of the total expense at 25.8%. This includes labor, mounting equipment, and other materials required to securely install the panels on your roof or property. Professional installation ensures the system is safely and optimally set up to maximize energy production.
Inverter (18% of solar system cost)
The inverter makes up 18% of the total cost. It is a crucial component that converts the direct current (DC) electricity generated by the panels into alternating current (AC) electricity, which can be used in your home or business. High-quality inverters are essential for the efficient functioning of the solar power system.
Balance of System (14.4% of solar system cost)
BOS includes all the additional components and equipment needed for the solar power system, excluding the panels and inverter. This category, comprising 14.4% of the total cost, includes wiring, switches, mounting hardware, and monitoring systems. These components ensure the system operates smoothly and safely.
Freight (9.4% of solar panel system cost)
Freight costs, which make up 9.4% of the total, cover the transportation of the solar panels and equipment to your location. This can vary depending on the distance and logistics involved in delivering the materials.
Service (7.2% of solar power system cost)
Finally, service costs represent 7.2% of the total expense. This includes maintenance, monitoring, and any post-installation services required to keep the solar power system functioning efficiently over its lifespan.
How Much Can You Save with Solar Panels in New Zealand?
This is based off our Standard 10 Solar Panel Starter Package with the following assumptions:
The projected energy cost is calculated by considering a 3.0% increase in energy cost each year, due to trends in the raising cost of energy. This estimate is based on Selected preferences, current energy costs and the position and orientation of your roof to calculate the efficiency of the system. Projections are based on estimated usage of 6875 kWh per year (NZ Average), assuming The following Rates:
Estimated Power Rates
| New Zealand Average standard Rates | |
| Energy Charges | |
| Purchase Price All Day |
$0.28 / kWh |
| Feed-in Tariff | |
| rate 0 All Day |
$0.17 / kWh |
| Fixed Charges | |
| Fixed Charge | $1.30 / day |
Example of Solar Panel System Savings
| Month | Solar Generation(kWh) | Utility Billbefore solar ($) | Export Credit($) | Utility Billafter solar ($) | Estimated Savings($) |
| Jan | 637 | 169 | 64 | 32 | 137 |
| Feb | 575 | 164 | 56 | 39 | 125 |
| Mar | 484 | 168 | 44 | 61 | 107 |
| Apr | 404 | 175 | 36 | 85 | 90 |
| May | 334 | 203 | 24 | 125 | 78 |
| Jun | 278 | 256 | 12 | 186 | 70 |
| Jul | 280 | 280 | 11 | 209 | 71 |
| Aug | 385 | 254 | 21 | 160 | 94 |
| Sep | 448 | 230 | 30 | 124 | 106 |
| Oct | 629 | 171 | 65 | 37 | 134 |
| Nov | 598 | 170 | 59 | 40 | 130 |
| Dec | 632 | 160 | 66 | 26 | 134 |
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