How do I know if my solar panels are worth it?
“Did you know installing Solar Panels can save more than you invest?” It offers a profitable path on the grounds of energy and money saving simultaneously. Sounds Familiar isn’t it? But do you get the expected result in the stipulated time?
Actually the commercial and industrial consumers can expect the payback in 3-5 years post installation and once you retrieve the initial investment then give yourself a good pat on the back for your smart energy decision because you can now consider negligible cost of energy for the coming years. But the speculation brings about a couple of things into the picture. So before you get tied up, we recommend you to read along and contemplate whether your solar panels are really worth the cash.
Usually the performance of any solar panel is affected by different factors. Let’s look at them one by one:-
Type of Solar Panel
Generally monocrystalline solar panels offer high energy yield in comparison to other types of panels and is consequently high in cost.
Direction of installation
In India the best direction of the installation of solar panels is the South direction if you want better output throughout the year. So if you cannot figure out the direction of installation in your property then let your solar panel simply face south direction for better efficiency.
Angle of inclination
It is also known as tilt of the solar panel. As a rule of thumb the tilt in the north south direction is taken to be equal to the latitude of the place where the plant is situated. It maximizes the energy yield.
In March 2021 Adani Green energy declared a plan to acquire a 250 MW solar power project in Rajasthan. Additionally they signed a contract to acquire 100% stake in Sky Power Globe’s 50 MW solar plant in Telangana.
Now let us analyze which parameters define the quality of Solar Panels.
Temperature coefficient of solar panels
It is defined as percentage change per degree of temperature change. It is observed that the lower the temperature coefficient of solar panel more stability it has in different operating conditions. It is rated according to the standard test condition of temperature 25 degree Celsius. Usually Solar panels get affected by high temperature thereby losing a part of their efficiency and performing better in low temperature.
In order to enhance the confidence in the product, it should be certified with a regulated body that certifies the minimum performance of the panels under standard conditions. Like ministry of New and Renewable Energy and also ISO certifications. The certified products provides conformance to the standards and quality of panels.
It helps us understand how long the solar panel can withstand changes in weather or different operating conditions. The IEC certifies the solar panels after couple of tests to determine the performance of the panels in high wind or other environmental conditions and those complying with the standards of IEC are the durable ones.
A partially shaded panel or even dust may affect the performance of solar panels and can eventually affect your return on investment.
Tolerance of Solar Panels
Power tolerance is the actual range a solar panel can deviate from its specified standard test conditions max power or in simpler terms the lab conditions in which the modules are tested. Invest in the modules having positive tolerance mentioned on their datasheet.
For example – If a 220 W panel has a power tolerance of -10%/+10% so this means that the actual power is somewhere between 198 and 242W. If you choose the panels with 0% or 0W negative power tolerance then the module has actual maximum power equal or greater than the specified number, it would be worth the price.
Efficiency of solar panels
The efficiency of solar panel depends upon the amount of power it generates by converting the radiations. Higher efficiency panels generate more energy per square meter and thus require less area overall. But the efficiency of solar panels depends upon multiple factors as mentioned above.
Warranty of the solar panels
A good investment is generally considered the one which provides guarantee of its services relentlessly for 20-25 years. The Indian manufacturers provide the performance guarantee of 90% for the rated output in the first 10 years and subsequently 80% for the next ten years and even some provide linear performance guarantee.
Cost per Watt
The actual price of the solar panel is obtained by dividing the price of the panel with the number of watts it produces as output. So the investment can be compared before purchasing.
Ratings of Solar Panels
The rating is calculated by the amount of energy it creates under standard test condition. A solar panel with high power rating yields more power but is not directly proportional to its efficiency. However if we compare two panels with similar efficiency but the one having high power rating is more likely to be preferred.
Additionally how effective is the performance of your solar panel and its efficiency counts on its manufacturing quality its reliability and the warranty conditions it offers as well.
Cost vs Value
Determining the worth is often equated with its payback time. Usually the silicon based panels repay you within 2 years. And as the efficiency increases the payback time comes down to nearly 1.5 years depending upon the operating conditions. Moreover it comes with a warranty of no less than 25 years and lower degradation over time which not only pays you back within the span but eventually generates savings and profits for you in future. It repays the cost upfront sooner justifying your investment. If you pay extra then your panel is going to outperform in long term and if cost is a restraint then even a comparatively low efficiency panels might also deliver optimum results overtime. Either way the cost is justified, it just depends upon your solar plan.
Initially the capital requirement is huge but overtime the cost of electricity is negligible as well as it gives you emission free energy right in your own property. The maintenance cost is very low and you can reap the benefits for long since the life of the solar panel lasts close to 25 years however the technologies can always be improved significantly overtime. It is the value addition for commercial and industrial setups by considerably saving the expenses on the bills. Moreover the accelerated depreciation benefit allows the commercial and industrial uses of solar power to depreciate the assets as much as by 40% which ultimately allows them to claim the tax benefit on the value depreciated in a given year giving you ultra savings on your investments.
We belong to only a few handful countries, which is blessed with good amount of sunlight than can be efficiently converted into solar energy. There is an enormous degree for the development in the Indian Solar industry. But the industry is affected by, absence of legitimate information about the solar panels and their quality. We at Soleos ensure that you get what you pay for. We are one of the leading Solar EPC Company in India and precisely we are acknowledged for providing premium quality products that are worth the money.
Every solar company makes it sound so natural, yet truly, regardless of whether going solar is a dependable long term investment for you. But we help you in undertaking such a huge decision of installing good quality solar panel with ease. Soleos proved to be a time-tested return on investment for every connected customer, when there are diverse options available out there
Why would you go with us?
We provide you with the assurance of choosing the right company having right credentials to install your solar panels at a competitive price and quality worth your money. We encourage and strengthen the Quality of products, manufacturing using latest technologies and innovations in the delivery of our services so that your investment doesn’t go in vain. We uplift the experience of every customer in our journey of solar revolution.
If such thought crosses your mind too. People often fall for installing solar panels without scrutinising its full potential and backing it involves. Be smart and think which is the viable option for you. Don’t fall for the sales jargon unless you need them. Let Soleos help you objectively map your needs for solar panels.
Soleos is worth it and so are your panels.