How to find the best solar panel at affordable price?

Getting a solar panel installed at home is a trending financial investment for many
homeowners. When you do a bit of research, you will find various offers from the solar
companies.
Some of the important factors to consider include the equipment for your system, your
financial options (or budget), and the installer that you select. All these factors are going to
leave a huge impact on your solar savings.
This guide will help you in choosing the best solar panel for you at an affordable price. So,
without any further ado, let’s get started.

How many solar panels do you need?

You have to analyze how many solar panels you need for your place before moving further.
Here are certain things to keep in mind:

 The power output of your complete solar system is more important than the size or
number of solar panels.
 The higher the power output of each panel, the fewer panels you will need.
 If you have got ample roof space, it will be more economical for you to buy cheaper
panels with lower efficiency and simply use more of these panels.

Consider the solar panel efficiency

When we are talking about the efficiency of the solar panels, we mean the ratio of the
energy in the sunlight that hits the solar panel to the (electrical) energy that is generated by
your solar system.
Let us understand this through an example. If your solar panel absorbs half the energy in the
sunlight, then your solar system’s conversion efficiency would be 50 percent. On an average,
the solar panel efficiencies vary from around 15% up to 21%.
Why is the solar panel with high efficiency preferred? Well, the answer is clear. A panel with
higher efficiency will provide more watts of energy per square meter of panel. In addition to
that, less roof space will be needed for a smaller solar panel of the same efficiency.
However, the only disadvantage associated with high efficiency solar panels is that they are
more expensive.

Quick payback periods make the solar panel even more affordable for you
When your newly installed solar panel is ready to produce electrical energy from solar
energy, you will start to reduce and eventually eliminate your electricity bills. In certain
years, you will be able to break on your investment in the solar system by lowering your
electricity bills. This period is defined as the payback period. Payback period is an important
factor of the financial benefits of installing solar panels.
The length of the payback period depends on various factors including the upfront price and
the local electricity rates.
But how does payback period make the solar the solar panel affordable? On an average, a
solar energy system lasts for 25 to 30 years. This implies that once the payback period has
been achieved, your solar panel will earn you money for about 20 years.
Getting a solar panel installed at your home will end up being significantly net positive when
we consider the money in your wallet. Rather than paying huge electricity bills, you will be
generating most of the energy you need at your home for free.
After you have reached your payback period, your solar panel is not just affordable, it
becomes profitable.

Bottom line
When you go out to buy solar panels, you must compare various factors such as the sticker
price, equipment, warranties, and installer quality. After comparing the solar panels from
different manufacturers, you can pick up your best suited solar panel.