In the last few years the cost of installing solar panels on your roof has come down considerably in India. With increase in electricity tariff and awareness about climate change and pollution more and more people are going solar to produce their own electricity.
In this article we will see the cost of solar panels in India and cost of solar system in India.
In India, cost of premium polycrystalline solar panels from Vikram solar, Warree solar, Renewsys solar, Canadian solar, REC solar with wattage in range of 300 Watt – 350 Watt is approximately Rs 19/ watt – 26/ watt plus 5% GST and delivery charges.
In India, cost of premium monocrystalline solar panels from Panasonic, REC solar, Trina solar, Canadian solar with wattge in range of 300 Watt -350 Watt is approximately Rs 32/ watt – 50/ watt plus 5% GST and delivery charges.
I am working in the solar industry for the last three years and have many friends who work in with various solar panels suppliers, I have compiled this article by gathering data from online trading websites like IndiaMart and also through some of the biggest solar panels dealer in India.
The price of solar panels varies from manufacturer to manufacturer and type of solar panel.
In brief there are three types of solar panels widely used for solar projects, they are monocrystalline solar panels, polycrystalline solar panels and thinfilm solar panels.
Let’s briefly discuss the difference between these PV panels and look into the cost of each one of these solar panels.
Cost of Polycrystalline Solar Panels:
Before we see the pricing of polycrystalline solar panels let me give you a short summary on it incase you are new to solar.
Polycrystalline solar panels are the most widely used solar panels in the world today. If you have seen a roof with solar panels on it then chances are it is polycrystalline.
Polycrystalline solar cells are made by melting fragments of different silicon crystals, pouring it in a mold and then cutting it in square shape to form a solar cell also called as ‘wafers’.
Polycrystalline solar panels offer great efficiency in affordable pricing.
I checked the cost of polycrystalline solar panels on e-commerce websites like Indiamart, Industry buying, amazon and also contacted some of the leading distributors in India to get accurate cost of polycrystalline solar panels.
The below images shows cost of Vikram solar panels and Waaree solar panels in IndiaMart.
For premium Indian brands like Vikram solar, Waaree solar, Adani solar, Renewsys solar cost of polycrystalline solar panels vary from Rs 19 / watt to Rs 22 / watt plus 5 % GST and transportation as per your location from the warehouse.
The below images shows cost of Canadian solar panels and REC solar panels in IndiaMart.
For premium International brands like REC solar, Canadian solar cost of solar panels vary from Rs 25 / watt to Rs 30 / watt plus 5 % GST and transportation as per your location from the warehouse.
The following table summarizes the cost of above 330 watts polycrystalline solar panels in India.c
|Solar Panels Brand||Cost of Solar Panel (Rs / Watt)|
|Vikram Solar Panels||Rs 20 / Watt to Rs 25 / Watt|
|Waaree Solar Panels||Rs 19 / Watt to Rs 24 / Watt|
|Renewsys Solar Panels||Rs 19 / Watt to Rs 24 / Watt|
|Canadian Solar Panels||Rs 25 / Watt to Rs 30 / Watt|
|REC Solar Panels||Rs 25 / Watt to Rs 32 / Watt|
Note: The prices may go up and down depending on the availability in stock. The cost will also vary for bigger solar panels like 380 watt, 400 watt.
Note: All the brands in this table are premium Tier 1 brands and you can go with these panels without thinking twice, cost of Tier 2 panels would be less than these.
Cost of Monocrystalline Solar Panels:
As the name suggests in monocrystalline solar panels, the solar cells are made up of single silicon crystal.
To make solar cells for monocrystalline solar panels, silicon is formed into cylindrical bars called as ‘silicon ingot’. Then the silicon ingot is cut into squares with chamfered edges know as silicon wafers.
These silicon wafers are solar cells which are then assembled in rows and columns to form a solar panel.
Monocrystalline solar cells manufacturing process is complex and expensive which makes them more expensive than polycrystalline solar panels, but because of use of single silicon crystal they have slightly more efficiency (upto 20 %).
The below image shows cost of monocrystalline solar panel from Panasonic.
For premium international brands like Panasonic, REC, Longi, Trina the prices of monocrystalline solar panels drastically vary from Rs 32 / watt to Rs 50 / watt.
Since monocrystalline solar panels are not as much used as polycrystalline solar panels in India their prices vary drastically due to low availability, less demand.
Solar panels alone won’t do anything, there are many other components in a solar system like solar inverter, distribution boxes, safety switches, earthing and more that work together to produce electricity and save electricity bill.
Ministry of new and renewable energy (MNRE) releases benchmark cost for solar system installation in India.
I have quoted the benchmark cost for solar on grid and solar off grid system for 2019 – 2020 .
You can download the actual pdf from here MNRE Benchmark Cost For Solar.
Cost Of Solar On Grid System:
In brief, solar on grid system is a grid tied system that allows you to use the solar energy when the sun is shining and supply the excess energy to the utility grid which you can pull at night when the sun is down and your solar is not generating electricity.
To know what is solar on grid system, pricing, its pros and cons read this article What is Solar On Grid System?
MNRE Benchmark Cost For Solar On Grid System in India:
|Solar System Size (kW)||Cost (Rs / kW)|
|Above 1 kW – 10 kW||Rs 60,000 / kW|
|Above 10 kW – 100 kW||Rs 55,000 / kW|
|Above 100 kW – 500 kW||Rs 53,000 / kW|
Note: The above pricing is benchmark cost set by MNRE, I work in the solar industry and have installed several solar on grid systems, the actual pricing goes up Rs 4,000/kW to Rs 10,000/kW for smaller systems (<20kW) and for larger system (>100kW) it generally comes down by Rs 2,000/kW to 5,000/kW. The prices totally depend on the quality of components you use.
Cost Of Solar Off Grid System:
In brief, off grid solar system as the name suggests is a standalone solar system not connected to the electricity grid. In an off grid solar system the energy generated by solar panels is stored in the batteries, whenever there is power requirement the stored electricity is pulled from the batteries to power critical loads.
MNRE Benchmark Cost For Solar Off Grid System Upto 10 kW:
- 1 hour backup Rs 62,000/kW – Rs 68,000/kW.
- 3 hour backup Rs 74,000/kW – Rs 81,000/kW.
- 6 hour backup Rs 94,000/kW – Rs 1,03,000/kW.
MNRE Benchmark Cost For Solar Off Grid System Above 10 kW Upto 25 kW:
- 1 hour backup Rs 55,000/kW – Rs 60,000/kW.
- 3 hour backup Rs 66,000/kW – Rs 72,000/kW.
- 6 hour backup Rs 84,000/kW – Rs 92,000/kW.
Note: These are prices given by MNRE for a standard type of installation with standard equipment’s, if your solar panels installation has elevation, quality of equipment is top notch the prices will go up by Rs 5,000/kW –Rs 10,000/kW.
To know more about off grid solar power system, its pricing, advantages and disadvantages read this article What is Solar Off Grid System?
The price of monocrystaline solar panels varies from Rs 32 / watt to Rs 50 / watt, whereas the price of polycrystalline solar panels varies from Rs 19 / watt to Rs 30/ watt, above this there is 5% GST and transportation charges as per your location.
The prices depends on the brand of solar panels, type of solar panels, market capitalization of a brand, availability of stock.
The cost of solar panels for brands like Vikram, Adani, Waaree are low since their demand is high and availability is also high, but for international brands like REC, Trina, Panasonic Risen their prices are high since there demand is high and stock is low.
If I have missed any important aspects on cost of solar panels and solar system then please let me know in the comment section.
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