solar panel cost per watt comparison​ Archives - Solar Findings https://solarfindings.com/tag/solar-panel-cost-per-watt-comparison/ Sun, 05 Jan 2025 10:00:06 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://solarfindings.com/wp-content/uploads/2024/09/cropped-Solar_20240816_135812_0000-1-32x32.png solar panel cost per watt comparison​ Archives - Solar Findings https://solarfindings.com/tag/solar-panel-cost-per-watt-comparison/ 32 32 Bifacial vs Monofacial Solar Panel Cost Comparison https://solarfindings.com/bifacial-vs-monofacial-solar-panel-cost-comparison/?utm_source=rss&utm_medium=rss&utm_campaign=bifacial-vs-monofacial-solar-panel-cost-comparison Wed, 30 Oct 2024 17:49:20 +0000 https://solarfindings.com/?p=4065 This article offers a cost comparison of bifacial and monofacial solar panels, and provides a detailed breakdown of their comparative costs between the two.

The post Bifacial vs Monofacial Solar Panel Cost Comparison appeared first on Solar Findings.

]]>

Let’s get real here. Cost is one of the primary factors that one takes into account while deciding to go solar. And rightly so – considering that the decision to use solar panels to meet one’s energy demands is an investment after all.  The economy of this investment decision is dependent on the type of solar panel one decides to pick. Bi-facial and mono-facial are two major types of solar panels used in home installations. Bifacial panels, being equipped with solar cells on both sides maximize power generation  . Monofacial solar panels are the solar panels that first come to your mind when you hear the word “solar panels” – these traditional solar panels are the single-sided folks you see in most homes. Broadly speaking — bifacial panels have a higher initial cost but greater energy power generation capacity. So, will this probability of higher efficiency account for the extra upfront cost when it comes to bifacial panels? Or should you go the traditional route and opt for the widely used monofacial ones?

 In this article, we are going to provide you a comparison of bifacial and monofacial solar panels, and offer you a detailed breakdown of their comparative costs so that you have full information about how each panel type will weigh on your wallet before you decide to purchase one.

 

NOTE: If you are looking for a comprehensive comparison (and not just the cost) of Mono-facial and Bi-facial solar panels, head over to the article below:

Bifacial vs Monofacial Solar Panels Compared

Table of Contents

  

Bifacial  VS Monofacial Solar Panels – How are they different?

Bi-Facial panels have PV cells and glass on both the front and rear sides of the panels, so that, besides the normal energy production from the side directly facing the sun, even reflected sunlight ( say off water or land) –  is used by the other side. By contrast, monofacial units capture light only from a single side, which is then used for energy generation.  Having a double-sided design can increase energy production by up to 30% in bifacial panels.

This difference in their working and components accounts for cost differences between Mono-facial and Bi-facial panels. So, without further ado, let us explore the cost breakdown of each in detail.

 

 

Bifacial vs Monofacial Solar Panel Cost Comparison 

1. Initial Purchase Price

 The first thing that pops into your head with any kind of price comparison is what you have to pay for it initially. Bifacial solar panels are costlier to manufacture compared with mono-facials, by and large, on account of their technology and materials used. 

  • Monofacial Solar Panels: Monofacial solar panels generally cost between $0.50 to $0.80 per watt, so that means we would be looking at approximately ($3,000 –4,800) for just the panels on an average 6 Kilowatt home system; This is excluding installation, inverters or any other component that is necessary for the system.
  • Bifacial Solar Panels: Bifacial panels are usually more expensive – anywhere from $0.80/watt to as much as $ 1.10-watt. Bifacial panels for an average 6-kilowatt system would cost between $4,800 and $6,600. It means bifacials are 20–40% pricier than monofacial panels at the outset.

The gap in pricing between these is sizable, but bifacial panels tend to cover the costs soon enough because of their increased lifetime power generation.

 

 

2.  Installation Costs

The cost of installation is also a major factor in the overall cost.

  • Monofacial Solar Panels: Installing monofacial solar panels typically boils down to US$1.00 to 1.50 per watt . This is about US$ 6,000 to $9,000 for a 6-kilowatt system. Installation costs mostly consist of installing the panels on either fixed-tilt axes or Solar trackers and vary relatively modestly across different projects.

 

Bifacial Panels: Bifacials are a superior alternative to mono-facial solar panels (considered references in the industry) However, their installation is a bit more complex and expensive, given they require specialized mounting systems that permit light to be reflected and pass through from behind. Ground-mounted bifacial Panels, moreover, may need reflective surfaces in the likes of white gravel to best serve them from behind. The total cost for installing a 6-kilowatt system with bifacial panels can run from US $7,800 to as high as US$10,800 .The installation of bifacial panels is a little trickier to plan for in the design of an array owing to their dual-sided nature, which potentially increases labor costs. In addition, not all installers are knowledgeable on how best to place bifacial panels and a specialized installer may charge slightly more. 

 

 

 

 3. Performance & Energy trade-off

When it comes to Performance and energy efficiency, Bi-facial panels may be a  more favorable choice, as they can produce a higher wattage output than a Mono-facial panel on average.

  • Monofacial Solar Panels: Monofacial solar panels on average, exhibit Energy efficiency between 16-18% for average solar panels available in the market and up to 20% for high-end panels. Their energy production is also dependent on factors like the weather, cloud cover, position of the panels, etc.,

 

  • Bifacial: The efficiency ranges from 20% and could go to over 25%, but the real kicker is being able to get some extra energy on the backside as a result of reflected light. In ideal circumstances, a bifacial panel can generate as much as 30% more wattage than monofacial panels. In one hypothetical location, for example, monofacial panels could produce 8 MWh annually, whereas the bifacial version located there could theoretically generate up to 10.4MWh according to the company’s published performance coefficients and factors.

While bifacial panels come with a higher initial price, they can pay for themselves faster through long-term savings on electricity, due to their increased energy output.

 

 

 

4. Long-Term Energy Savings

A true comparison of bifacial and monofacial panels should take into consideration the performance of the system over a longer period, i.e., their lifespan which ranges between 20-30 years. Savings due to reduced electrical bill amounts will vary depending on what climate your installation was in and your electricity consumption.

  • Monofacial Solar Panels: Monofacial Solar Panels offer savings between US $20—30K over their 25-year life span depending upon the location and price at which they get electricity.
  • Bifacial Solar Panels: Homeowners could save anywhere between US$25,000 to US $35,000 over 25 years with the increased energy production of bifacial solar panels. The potential for more savings helps balance out the higher initial cost of bifacial panels.

However, if bifacial panels are deployed at a sub-optimal site (for example, on non-reflective surfaces or in end rows with less sunlight hitting the backside), the boost to energy production may not be enough to account for their higher costs.

 

 

5. Maintenance Costs

Alternatively, maintenance is something to consider when comparing the total cost of ownership. Both Monofacial and Bifacial panels usually require minimal maintenance which involves regular inspections and cleaning the panels once to thrice a year.

  • Monofacial Solar Panels: Regular cleaning and maintenance of Mono facial solar panels usually costs around US$ 150-300 a year, depending on the size of the system and the weather of the area you live in(dusty, lot of tree cover, etc., requires more frequent cleaning).

 

  • Bifacial panels: Since Bifacial panels have solar cells on both sides cleaning them may be more time-consuming and slightly more expensive. This may raise yearly maintenance spending to the US$200-400 range, on average. However Bifacial panels generally lack a metal frame which makes them self-cleaning for the most part, and can do with less frequent cleaning. Therefore, the additional costs for bifacial panels may become more significant over the life of a system, but they are still fairly minimal relative to what can be saved through the extra energy production in ideal conditions.

 

 

 

Final Verdict- Bifacial Or Monofacial, Considering total costs?

Bi-facial and Mono-facial panels differ on fronts like the design, operation, price, installation costs, energy production, maintenance, among others. While a comparison of the costs in terms of the initial costs and the long-term savings and maintenance reveals that Bi-facial panels will cost you more on all front, s except the long-term energy and cost-saving benefits they entail if your system can be set up in ideal conditions(appropriate sunlight hours, ample of reflective surfaces for the rear-side energy production, etc.,) Bi-facial panels can help make a significant difference in your electric bills savings.

 

However, Bifacial Solar Panels have some of these serious disadvantages you should know about: 

 

https://solarfindings.com/disadvantages-of-bifacial-solar-panels/

On the other hand, if your energy requirements are met through the cheaper and more accessible mono-facial panels, then they may prove to be a simpler and more reliable option.  

 

 So here’s a rule of thumb. Put simply, go for bifacial panels if you don’t mind the higher upfront cost, if all others aspects that affect its efficiency ( mentioned above) have been covered, and if you are looking for a long-term use of panels without switching your place of residence.  If any one of these three conditions remain unmet, mono facial panels are your safer bet.

 

 

 

Frequently Asked Questions

In terms of energy efficiency, solar panels are better than solar shingles. In terms of appearance, solar shingles have an edge over solar panels with their sleek and sophisticated look.

Solar panels and Shingles can last 25-30 years. However, it varies from company to company .

A solar shingle, also known as solar roof tiles, are composed of semiconducting material and work to harness solar energy and convert it into electricity. It is an advanced roofing solution.

A solar panel is made up of solar cells, which are typically monocrystalline or polycrystalline, whereas solar tiles are made of Copper Indium Gallium Selenide. The function of solar panels is energy production, whereas solar tiles were designed to be an alternative roofing option while producing electricity.

The post Bifacial vs Monofacial Solar Panel Cost Comparison appeared first on Solar Findings.

]]>