Photovoltaic Panel Costs: A Guide for 2024

The costs of a photovoltaic system: quick and easy guide for 2024

If you dream of freeing yourself from high energy bills and embracing clean energy, a photovoltaic system could be the perfect solution for you. But what are the installation costs of a photovoltaic system? In this quick and easy guide, updated for 2024, we’ll analyze the factors that influence the price of photovoltaic panels and give you some tips on how to save money.

What does the cost of a photovoltaic system include?

• Site inspection and feasibility study: before installation, an expert technician must evaluate your home’s exposure, the available surface area, and your energy consumption;

• Components: photovoltaic panels, inverter, optimizers (optional), storage batteries (optional);

• Design: development of the technical solution best suited to your needs;

• Installation: carried out by a certified company;

• Administrative management: authorizations, incentives, grid connection.

Which factors influence the cost of solar panels?

• System power: Measured in kWp (kilowatt-peak), this determines the amount of energy produced and consequently the price of a photovoltaic system;

• Quality of components: More renowned brands and advanced technologies may come at a higher cost, which in turn increases the price of the photovoltaic panels you will need to install;

• Size and complexity of the system: Installation on roofs with obstacles or on the ground requires a higher investment, which will increase the overall cost of the photovoltaic system;

• Geographical area: Labor and installation costs for a photovoltaic system may vary depending on the region.

The costs of a photovoltaic system in 2024

In general terms, the investment required for the purchase and installation of a photovoltaic system tends to vary, but it commonly falls within a price range of €2,500 to €3,000 for each kilowatt-peak (kWp) of power the system can produce. This cost range reflects an average estimate that can change depending on several factors, including the quality of the components used, the size of the system, the complexity of the installation, and any tax breaks or incentives available at the installation site.

How much does a 3 kW photovoltaic system with storage cost?

For a medium-sized home, specifically 100 square meters, with average energy consumption, installing a photovoltaic system with a production capacity of 3 kWp could require an investment ranging from €7,500 to €9,000.

How much does a 6 kW photovoltaic system with storage cost?

For a medium-sized home, specifically 100 square meters, with average energy consumption, the price of a 6 kW photovoltaic system, which includes a 10 kWh storage system, is around €16,000 and produces approximately 8,000–9,000 kWh per year of clean energy.

How to save on the cost of the system?

• 50% tax deduction: cuts the cost of the photovoltaic system in half over 10 years;

• Take advantage of state incentives: photovoltaic bonuses and energy account schemes;

• Compare quotes from different companies: choose the most advantageous offer;

• Opt for high-quality components: they last longer and reduce maintenance costs.

A concrete example

Let’s now look at a concrete example of the savings that can result from installing a photovoltaic system:

Consider a family of 4 with an annual consumption of 4,500 kWh and a 3 kWp system. The system produces 3,600 kWh/year, with 30% self-consumption and 70% fed back into the grid.

Annual savings:

• Electricity bill: 4,500 kWh x €0.28/kWh = €1,260

• Self-consumption: 3,600 kWh x €0.28/kWh x 30% = €316.80

• Feed-in tariff: 3,600 kWh x €0.28/kWh x 70% = €756

Total savings: €1,260 – €316.80 – €756 = €187.20

Over 10 years, savings can reach €1,872, reducing the cost of the system and making it a profitable investment.

What is the cost of solar panels per square meter?

The cost of solar panels per square meter ranges between €150 and €250. This price depends on several factors, including:

• Technology: There are monocrystalline, polycrystalline, and thin-film solar panels. These different technologies come with different costs.

• Efficiency: More efficient solar panels have a higher cost.

• Brand and model: Manufacturers offer different ranges of photovoltaic panels with varying prices.

Cost of next-generation solar panels

Next-generation solar panels, such as perovskite panels or bifacial panels, cost more than €300 per square meter. However, they offer higher energy efficiency and better performance in low-light conditions.

In general, we suggest using €/watt as a comparative unit of measurement rather than square meters.

The costs of photovoltaic panels: conclusions

Installing a photovoltaic system is an important investment, but costs have dropped considerably in recent years. Thanks to both economic and environmental benefits, solar energy is becoming increasingly worthwhile.

This downward trend, combined with the significant economic benefits offered by reduced energy expenses and the possibility of earning from selling excess energy, goes hand in hand with environmental benefits such as reduced greenhouse gas emissions and lower dependence on fossil fuels. These aspects together make investing in solar energy not only a strategically advantageous economic choice but also a valuable contribution to environmental sustainability and the fight against climate change. In conclusion, photovoltaics now represent an increasingly cost-effective and desirable solution in the transition toward a sustainable energy future.

Useful tips:

• Request a free site inspection from a specialized company;

• Compare several quotes and choose the most convenient offer;

• Opt for high-quality and reliable components;

• Check available tax deductions and government incentives.

With a bit of care and planning, you can finally say goodbye to high energy bills and embrace the clean energy of the sun!