Commercial Solar Panel Cost Estimates
As the cost of solar panels is lowering every year, commercial solar panel systems are being valued more and more by businesses. If you are still undecided on installing a solar panel for your projects, let us assure you that it’s the best time you go solar, as it will save you thousands of dollars per month in utilities costs!
However, you need to evaluate your property’s commercial solar panel cost before anything else. The cost depends on a lot of factors, including the size and type of the solar panel system, mounting area, panel number, etc.
Here, in this article, we will discuss the costs of a commercial solar panel based on all these necessary factors so that you can estimate the overall expenses. So, let’s dive right in.
Commercial Solar Panel Average Cost
In general, a small to medium commercial building will need 10-kilowatt solar panels. The national pricing for a 10kW panel is around $27,600 to $30,000. Usually, a solar panel price is measured by the unit ‘dollars per watt’. It means the average cost of a commercial system is between 27.6 $/watt and 30.0 $/watt.
That being said, the overall price of a commercial solar panel can vary between $50,211 and $502,113 depending on the wattage of the panel, which ranges from 2kW to 50kW. You’ll be pleased to know that several tax incentives and rebates are available for commercial solar. Some of them include -
Now that you know all the amazing opportunities of reducing your costs let’s break down the percentages of your total expenses. Here’s the cost percentage for each section -
Cost Breakdown of a Complete Solar Panel
Depending on the size of the building, you’ll need 10 to 30 solar panels. The price of each panel will vary based on the panel size, type, and brand you’re buying. Here’s the average cost for the various number of panels (installed) -
The size of the solar panel system is usually measured by the unit kilowatt (kW). Here is the average cost for different sizes of solar systems installed -
There are two main types of solar panel systems depending on how you use solar energy for powering your commercial space. Below are the two types of solar panel systems with their usage and costs -
Cost As Per the Number of Solar Panels
This type of solar will cost you the lowest, ranging from $15,000 to $21,000. Here, your solar system remains connected to the power grid of your local utility company. This way, you don’t have to worry about power storage for different weather conditions.Usually, the more panels you have, the lower the electricity bills you’ll need to pay. In some states, the extra energy your solar panel system produces goes back to the grid, and you receive a credit on the grid’s electric bills. Also, you’ll need far less equipment to install this type of solar system.
Who Can Use the Grid-Tied Solar System?It’s the most common type for most USA residents. However, it can’t fulfill the needs of large commercial buildings. The grid-tied solar panel system is mostly useful for boutique houses, one-stored buildings, and small firms.
You need to spend around $30,000 to $60,000 for this efficient solar panel system. In this type, the system is completely separated from the local grid line, and it produces the necessary power for running larger spaces.The size of the solar panel depends on the building’s length and energy needs. You have to install some extra batteries and a generator to keep the system active in case of sudden fluctuations and prolonged rainy seasons.Who Can Use the Grid-Tied Solar System?Usually, the system is efficient and productive enough to meet all the power requirements of large commercial buildings, including warehouses, retail stores, hotels, big farms, and even malls.
Cost As Per the Panel Size
You can go for any of the three options for solar cell types: thin-film panels, monocrystalline panels, and polycrystalline panels. Below are the prices and power efficiency of each type –
If you’re installing a solar panel only for your commercial building, you can set up the solar system in two areas, on the roof or ground.
There you have the commercial solar panel cost based on various aspects. You can save up to 75% of your utility bills by installing solar panels! So, opt for the one that meets all your requirements. Remember that the costs will vary depending on your locality. Contact your local contractor for more information.
Cost As Per the Type of Solar System
Are you trying to estimate a commercial solar panel cost? Our article will tell you about all the expenses you need to know for setting up a solar panel system.