The question ‘how much do solar panels cost’ doesn’t have a one-size-fits-all answer. The price of a solar system depends on the size of the system, as well as the quality of the products you buy.
As a rough guide (as at July 2019), a 3kW solar system (including the panels, inverter and mounting) would likely cost $4000 – $5500, a 5kW system might cost $5000 – $7500 and a 10kW system could cost $10,000 – $13,000.
A 5kW solar system is well-sized for most family homes with four or more people, while 10kW systems are relatively large and therefore less common.
Be wary of quotes that are much less than this, as the installer might have to cut corners or offer lower-grade products to reach a cheap price.
It’s also worth looking into whether you’re eligible for government support, as some state governments offer rebates on solar panels.
The Victorian Government’s Solar Homes Program has rebates available for solar panels, as well as solar batteries and solar hot water. The ACT also has rebates available and in Queensland there are interest-free loans and grants available for solar panels and batteries.
We know though that even with government support, solar panels can seem expensive. However a 5kW solar system has a payback period of around three to seven years, so while it might seem like a lot of money now, you could stand to see savings three times over!
Ready to go solar?
Thinking about solar? Now is the most cost effective time to add a solar battery too. For example, our mid-sized solar and battery package (including installation) could pay for itself in around 7 years*.
Designed specifically for households adding solar panels and a battery at the same time, the DC Power Co solar and battery package brings world-leading, tier 1 solar panels together with an Australian-designed battery solution in one streamlined, cost-effective package.
The package comes in a range of sizes depending on your energy needs, household set-up and budget. Plus there are financing options available so you can start saving with your solar and battery system now, and pay it off over time.