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Why are Solar Panel & Systems Costs Finally Affordable?
Solar Panel and system price drop

What are the cost of solar power Systems in 2024?

Low power user<br />
solar power system cost $10,000
Medium power user<br />
solar power system cost $10,000 t0 $20,000
High power user<br />
solar power system cost $20,000+

Since 2002 the cost of a Low Power User system has decreased from $40,000 to under $10,000 now in 2024

 

Low Power User

  • Monthly Power Bills: Below $100
  • System Cost: Under $10,000 in 2024 from $40,000 in 2002. That’s a 75% Drop in price!
  • 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 in 2024
  • 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+ in 2024
  • 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

What are the Costs of installing 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.

 

Install of system (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.

 

Inverters (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 Systems  (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 & Transport (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 & Applications (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.

With Affordable solar costs, how much can you save?

This is based off our standard 10 panel Starter Package over 35 years

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:

Average 2024 NZ 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

Estimated 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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