The cost of a solar PV power system depends on several factors. Major factors that determine the cost of a solar system are:
- Type of solar system (i.e.; On-grid/off-grid. Read more about type of system that suits you)
- Structures for solar panel
- Size of solar system (Click here to know in detail about how much capacity do I need?)
Cost Components of a Solar PV System:
Solar PV System cost includes cost of:
- Solar panels
- Structures
- Solar inverter
- Batteries in-case of off-grid/hybrid systems
- Balance of System (BoS) :
- Cables, junction boxes, earthing equipment, lightning arrestors, and conduits etc.
- Engineering, transport, supervision and installation of solar power plant
How Type of Solar System Impacts Cost
Systems without battery backup (on-grid solar systems) cost less compared to battery based systems (off-grid/hybrid). As extra cost of batteries is not there in on-grid system, they cost less.
If the objective to go solar is saving electricity bills or improving green footprint, on-grid systems fit the purpose. If there are power cuts or no power, off-grid/hybrid systems are suitable. However, off-grid systems are costlier by up to three times the cost of on-grid system depending on capacity of battery required.
E.g; On-grid systems cost about INR 45,000 per kWp; Off-grid system cost could be up to INR 95,000 per kWp.
How Structures Impact Cost
Solar panels need support structures. Generally, iron or aluminium is used as structural material. Amount of structural material required varies by type of installation and location.
Type of solar installations could be ground mount, concrete rooftop, metal rooftop, hill area etc. As the strength required for each type of these installations differ, amount of structural material and cost of system varies.
Location also impact the structural strength as design wind speeds and tilts required vary by location. Click here to know more about design wind speed of your location.
How Size of Solar System Impacts Cost
Other major parameter that impacts the cost is size or capacity of solar system you need (Read to know more about size of solar system you need). Small systems cost more compared to larger systems. This is due to scale benefits in certain components and services.
Besides above factors, there are other factors that impact the cost of solar systems such as supply & installation complexities, technology/quality of panels, warranty periods etc.
On-Grid Solar Power Plant Cost
Approximately, On-grid solar PV power systems cost between INR 45 – 60 per Watt with Mono crystalline solar panels. Broad cost of solar systems are shown here
|
Capacity |
Cost inclusive of all taxes (INR) |
|
3 kW On Grid Solar Plant Cost |
1,80,000 |
|
5 KW On Grid Solar Plant Cost |
2,75,000 |
|
6 KW On Grid Solar Plant Cost |
3,35,000 |
|
8 kW On Grid Solar Plant Cost |
4,40,000 |
|
10 KW On Grid Solar Plant Cost |
5,50,000 |
|
15 kW On Grid Solar Plant Cost |
7,50,000 |
|
20 kW On Grid Solar Plant Cost |
10,00,000 |
|
25 kW On Grid Solar Plant Cost |
12,50,000 |
|
30 kW On Grid Solar Plant Cost |
15,00,000 |
|
50 kW On Grid Solar Plant Cost |
22,50,000 |
Cost of Off-Grid and Hybrid solar PV system::
The off-grid solar system is a self-sustaining system with battery banks, the charge controller and a backup generator in case of emergencies. These costs adds up, and makes the off grid system expensive. Off-grid systems cost depends on backup required. It could vary between INR 70,000 – 150,000 per kWp depending on back-up required.
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