The best-priced solar panels may not be the cheapest solar panels. Instead, finding the best deal on solar panels for your home means considering several factors, including solar panel pricing, energy output, efficiency, lifespan, and installation costs. The most affordable solar panels for you will likely be a combination of those attributes, rather than the actual number on the price tag.
An excellent place to start looking for the best deal is to start with inexpensive solar panels and work your way through the numerous decisions you’ll eventually make when choosing your system. We compiled this guide to help you make an informed decision by knowing what to look for in your solar energy system and how to separate the hype from reality.
How to Find the Best-Priced Solar Panels
The first distinction to make about finding the best-priced solar panels is that the price of individual panels may mean very little. The cheapest solar panel you can find can quickly become very expensive if it doesn’t work for your needs or provide a return on your investment.
With that said, the most expensive solar panels on the market may not meet your needs either, and could also represent a losing investment.
A sure way to find the best solar energy deal is to ignore the price of individual components regardless of the type of solar panels, focus on the cost of the entire system that your home needs and compare it to the cost per watt of usable energy. Solar energy systems with a cost below $3 per watt of power will typically meet the definition of affordability.
Are Cheap Solar Panels Worth It?
As solar panel efficiency improves and their prices continue to decrease, you can typically find cheap solar panels to meet the needs of any home, including yours.
Cheap solar panels are worth it if their output is sufficient, depending on how many panels you need for your location and sun exposure, and their pricing reflects an overall investment that will produce a break-even point in a reasonable time.
Why Do Solar Panel Prices Vary?
Other than the efficiency and pricing differences between panel types, such as monocrystalline and polycrystalline, solar panel costs vary widely for several reasons.
Efficiency
In general, there are two main types of solar panels designed for home use. Monocrystalline solar panels are highly efficient, converting more than 20% of the collected sun’s energy into usable power. Higher efficiency typically means a higher price tag per panel. But not necessarily per watt.
The other main type of solar panel is polycrystalline. These panels are typically more inexpensive but less efficient, generally under 20%. However, this low-cost option only applies to the prices of individual panels and doesn’t consider the cost per watt.
There is a third type of solar panel that’s making waves in the industry. Thin-film solar panels were once only used on small-scale devices and battery chargers. However, as the technology advances, they could soon be competitive with the other types of home solar arrays and offer cost advantages.
Wattage
Higher wattage typically equals a higher price per panel. However, a panel that generates twice the power isn’t likely to cost twice as much. Meaning you may be able to buy fewer, more costly 400W panels for less than the price of twice the number of 200W panels to generate the same power. Often the decision comes down to available space for your array and the overall cost per watt.
Warranty
Be wary of any solar panel that’s not covered by a long-term output and defect warranty. Even the cheapest solar panel is expensive if it fails and isn’t backed up by a warranty. Additionally, longer warranties generally signify that the manufacturer is certain of your satisfaction. After all, they don’t want to lose money fixing your broken panels, either.
Home Power Needs
The amount of power your home needs to operate off the grid is very different from the amount necessary for simply operating a few appliances. If you’re looking to disconnect from municipal power, or even sell energy back to the utility company, you’ll need a large array of efficient solar panels, which will cost more than a few less efficient ones used to provide power for a few in-home devices.
The difference is that the large, expensive array will reduce your energy bills much more than a supplemental, less costly system.
Installation
Kits and panels are available from some manufacturers that are designed for DIY installation. Installing your own solar energy system can cut labor charges out of your total system cost. However, DIY installation requires you to obtain your own permits, and you’re on your own when it comes to receiving rebates and applying for tax incentives.
Many manufacturers also require their systems to be professionally installed to validate the warranty. That means paying upfront for a pro installation could be less costly than DIY.
Additional Costs
Other costs to consider when building your system are the prices and installation charges for all the other components it needs. Your system may include inverters, batteries, transfer switches and installation kits. In general, but not always, these system components are subject to similar cost rules where paying a little more upfront for high-quality devices is often advantageous over inexpensive ones that are potentially less reliable.
Cheap Solar Panel Brands
Despite the existence of sub-par solar panel brands, there are several manufacturers and companies that offer excellent value by providing quality products at reasonable prices that could reduce both the upfront and long-term costs of your solar energy system. Here are just a few.
- Longi offers several photovoltaic solar panel options that combine good efficiency ratings with value pricing and back it up with 25-year warranties.
- Qcells solar panels provide variable-length warranties and offer DIY kits and solutions so you can save even more.
- Silfab builds high-quality, durable solar panels that are still reasonably priced.
- Canadian Solar offers value-friendly, lower-wattage solar panels with long output warranties.
- Trina manufactures a wide selection of solar panels. Its residential offerings provide excellent value.
- Sunpower offers solar panels that rival the efficiency levels of more expensive models.
- Renology offers a lineup of 12-volt solar panels up to 200W. These panels are generally better suited to RV or small-system uses but represent an excellent value.
Ways to Save Money on Solar Panels
Buying the cheapest solar panels and hoping for the best isn’t necessarily the most recommended way to save money on your solar energy system. However, there are many effective ways to reduce your overall costs.
Solar Incentives
Currently, the most effective cost-saving tip for going solar is to take advantage of local, state and federal solar tax credits and rebates. Until the end of 2032, the federal tax credit can wipe out 30% of the cost of your system in the form of an income tax reduction. Coupling that with any state rebates and incentives, along with the ability to sell unused energy back to your utility company in most areas, can substantially reduce your overall costs.
Deals and Discounts
Solar energy deals and discounts come in various types. Similar to state and local rebates, some municipalities may offer grants or low-interest loans to promote solar energy use in the community. Also, solar panel manufacturers and installers often offer discounts and programs to help ease consumers into using solar energy.
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Solar System Size
Unsurprisingly, the size of your solar energy system affects its price. However, it may be a surprise to learn that smaller systems don’t always cost less in the long run, and larger systems may not be all that great for savings, either.
An undersized system could take longer to pay for itself because you’ll still have to buy some power from your utility company. And, while you can still sell energy back to the utility company in some locations to make up for the extra cost of an oversized system, the amounts they pay are getting smaller in many areas.
To maximize savings on your solar energy system, carefully calculate your energy needs and aim for a system sized to fit, with little tolerance on either side of too big or too small.
Recommendations
A large number of solar energy providers compete for your business. Although that’s excellent for consumers regarding quality, innovation and price, the fact makes choosing just one that can consistently meet every homeowner’s need is challenging.
The best solar companies offer solutions in a wide range of values and options. Hiring a professional to help you choose, size, install and walk you through the rebate and incentive programs to ensure you get everything coming to you is the best way to save money long-term, even if it costs a little more at the outset.
