Installing photovoltaic panels in a home or business has many advantages. One of the most compelling reasons is their profitability, because energy self-consumption installations allow us to save money on our bills from day one, and for many years. Added to that, the cost of their maintenance is minimal throughout their useful life.
In order to find out just how profitable this investment is, we need to assess five aspects:
- The price of the photovoltaic installation.
- The monthly savings on bills.
- The amortisation period of the initial investment.
- The installation’s useful life.
- The aid, subsidies, or discounts on renewable energy in each Autonomous Community.
At MyGreenHouse, we don’t like to talk about fixed prices or solar kits. We believe in a comprehensive service, starting with an evaluation of your home or business premises, and including the processing of all the permits, licenses, grants, right up to the installation itself. However, we know that it is important to have a general idea of prices before you make a decision, and so today we are going to talk about the approximate average price of a photovoltaic installation in Spain.
What is the average price of a photovoltaic installation?
The price of a solar self-consumption photovoltaic installation for a single-family home is around €1,500 for each kilowatt generated (taxes not included). If we take into account that a typical household consumes around 4.4 kW, the initial cost of a project of these characteristics in Spain would be around €6,500 (plus VAT).
However, having said that, the price of a photovoltaic system can vary greatly depending on different factors. The amount of energy you need is only one of these. Other factors are available roof space, the orientation or structural characteristics of the roof, and the type of solar panels.
All these factors can determine how many solar panels you need to install or the type of panel you are most interested in. If you have plenty of space, you will be able to install all the panels you need for optimal self-consumption production. We recommend that you don’t install more than you need, even if you have space, as the compensation of surpluses will not cover the extra investment made to install more panels. If, on the other hand, the surface area of your roof is quite small, or is less usable for whatever reason, then you can opt for high-performance panels, which are somewhat more expensive, but generate more energy.
How much does a solar panel cost?
The price of photovoltaic panels is determined by how many watts (w) they can generate and the type of material they are made of.
For example, monocrystalline panels can produce 15-25% more energy than other models, with the added bonus that they have a longer lifetime. The downside is that they are somewhat more expensive.
Self-consumption installations should generally opt for panels between 300 and 500w. The former cost between €115 and €220, without taking into account the assembly costs or the structure.
If a house requires at least 3 kW to cover its energy consumption during certain hours of the day, it will need at least 6 panels of 450w. The cost to purchase these photovoltaic panels will be around €1,300 (excluding taxes).
If you want to cover the maximum energy demands with your photovoltaic installation to allow for the average consumption of 4.4 kW, then you would have to install ten 450w panels and invest around €2,200, not forgetting the additional costs of assembly, structure, and taxes.
At this point, we must not forget that solar energy systems are not just a series of photovoltaic panels placed on the roof. This type of installation requires other components such as an inverter, which is necessary to convert the direct current produced by the photovoltaic panels into alternating current to light the house or power your household appliances.
Solar inverters cost between €950 and €2,000 per unit, depending on their output power or the type of inverter.
In addition to this, in isolated self-consumption installations, you will also need to have batteries installed to store the surplus energy generated. You can take advantage of this when you use more electricity than your photovoltaic installation produces, or when you need electricity at night.
How to calculate the average price of a photovoltaic system
To calculate the price of a photovoltaic installation, to the cost of the panels, we have to add inverters, batteries, the cost of other materials such as wiring, the structures for installing the panels, the bidirectional meter to monitor how much energy we produce, as well as the labour costs.
In general terms, we can divide the total price of a photovoltaic installation into these approximate percentages:
- Photovoltaic panels: 30%
- Inverter: 25%
- Batteries: 20%
- Structures, supports ,and cabling: 10%
- Qualified technicians’ labour: 15%
The final price can be reduced if we factor in the different grants and subsidies available for the implementation of solar energy installations.
As we mentioned at the beginning of this article, at MyGreenHouse, we don’t just like to talk about numbers, but about our comprehensive service that will give you total peace of mind. This service includes designing a customised project, establishing which option is best for you and taking care of all the administrative procedures.
If you are interested in getting to know us and letting us study your case, don’t hesitate to get in touch!