Solar panels are environmentally friendly energy solutions that use sunlight to generate electricity, help reduce the reliance on fossil fuels and reduce utility costs. This is why solar power generation systems are popular among individuals and businesses that are trying to reduce their carbon footprint and rely on cost-effective energy sources. That said, if considering switching to a solar power generation setup, one must know the cost involved and things that can influence this number.

Average cost
For smaller homes, the average cost of solar panel installation is between R 45,000 and R 70,000, based on the project requirements. One can find individual solar panels for sale anywhere between R 1,800 and R 4,200 per unit, depending on their size and efficiency.

Factors that affect the cost of panels
1. Roof suitability
A key thing to consider when trying to estimate the cost of solar panel installation is the roof. The pricing, size, and quality of the panels can vary based on the shape, angle, size, and stability of the roof. A strong roof will be able to hold solar panels on its own. On the other hand, a weak roof would need repairs or replacement to be able to hold the panels; this increases the cost of solar panel installation, which increases costs. 

Additionally, the roofing material can influence installation costs. Asphalt shingles make solar panel setup easy and cheap, whereas metal, tile, and slate roofs need special mounting hardware to hold solar panels, making them expensive options. 

Even the type of roof plays a role. For instance, as opposed to a slanting roof, a flat roof would need tilt racks to allow solar panels to capture sunlight, which increases installation costs. 

Typically, a good roof for solar panel setup is one that lowers maintenance and the risk of damage. To check if one has such a roof, one must inspect the surface and look for damages and things that could reduce the efficiency of solar panels. Then, one must fix these issues to reduce the cost of installation.

2. Panel size
When trying to get a near-accurate solar panel cost estimate, one must consider the size of the panels they want to install. The specific project requirements, say, in terms of the available space and energy output, will determine the panel size. However, smaller panels may not always be cheaper. For instance, sites with space constraints and huge energy output needs will have to work with high-efficiency panels to get the desired amount of solar power. These panels can be more expensive than moderate to low-efficiency panels. Another thing to consider is to weigh the long-term cost savings against the upfront cost. While larger panels and highly efficient variants can cost more, they can help one save more money in the long run by producing more energy.

3. Panel type and quality
The type of solar panels has a huge impact on the price of the power generation system. Usually, one can choose from three main types of solar panels—monocrystalline, polycrystalline, and thin-film. 

Monocrystalline panels are made from a single silicon crystal. They are the most efficient and durable option here. Their high efficiency means they require less space to generate as much power as any other type of panel, making them an ideal choice for residential rooftops. That said, monocrystalline panels have a complex manufacturing process, resulting in a higher upfront cost for the buyer. 

Another option is polycrystalline panels, which are composed of multiple silicon fragments and are relatively less efficient but more affordable options than monocrystalline variants. This type is a popular choice for homeowners looking for solar panels that strike a balance between cost and performance. 

The third option is thin-film solar panels, which are the least efficient and most inexpensive option here. They are required for large-scale installations where there are no space constraints. 

4. Panel brand and installation service providers
Solar panels can vary in price from manufacturer to manufacturer. Each panel brand prices its product differently. Not just that, the choice of brand here also determines the quality of the product, customer service and the warranty coverage one can expect. This, in turn, impacts the pricing of the product. So, one must spend some time on research and look for brands that are known to offer high-quality, durable panels. Credible manufacturers also generally offer better warranties and advanced technology. If one prioritizes these benefits, one may have to pay more for the product. That said, one can find solar panel manufacturers that price their products reasonably. 

Another factor that affects the cost of solar panels is the quality of installation. If the panel installation is meticulously carried out, one is less likely to spend excessive money on repairs, replacements, and energy bills. This is why one must choose the right solar panel installation professionals.

Apart from these factors, the size of the backup generator and the complexity of the project affect the cost of solar panels. Even batteries play a role in determining the cost. For instance, lithium-ion batteries are a popular choice. One can choose from 2.4 kWh to 16 kWh batteries for their solar panel system, depending on the requirements and the budget.