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Solar System Prices: Everything to Know in 2024

If you’re planning to install a solar PV plant in your home or workplace, you must be browsing the internet to compare solar system prices. This quick yet comprehensive guide to keep in mind while exploring solar system prices in 2024.

By Pallav Jain
New Update
solar system for home

If you’re planning to install a solar PV plant in your home or workplace, chances are that you have been browsing the internet to compare solar system prices. And we’re sure you would agree that the entire process is quite confusing and complicated, right? Well, don’t worry, as we’re here to make your day easier. This quick yet comprehensive guide will tell you all the factors you need to keep in mind while exploring solar system prices in 2024. Let’s get going!

  • The Type of Solar Power Set-Up

One of the main things that affect solar system prices is the type of solar power set-up, and the three available options include on-grid (or grid-tie), off-grid, and hybrid PV systems. An on-grid solar PV system is one that relies on the main electricity grid while an off-grid solar PV system works independently. On the other hand, a hybrid solar PV system is a combination of the other two variations (on-grid and off-grid) as it relies on the local grid but also comes with battery backup. Thus, you first need to identify the type of solar power setup you require.

  • The Capacity of the Solar Power Set-Up

When comparing solar system prices, you must consider the capacity (also commonly referred to as size) of the solar power setup. This includes solar PV panels, solar inverters, and solar batteries. You can evaluate the required capacity by assessing your daily power needs and the number of appliances you wish to run on solar energy. For instance, if you only want to use solar energy for backup, a small-sized PV system will be suitable. However, if you plan on using solar power 24/7, you will need a large-sized PV system.

  •   Availability of Added Features

Another thing to keep in mind while comparing solar system prices is the availability of added features for all the components, including the panels, inverter, and battery. When it comes to PV panels, you must choose ones with improved low-light performance, PID-resistant technology, advanced EVA encapsulation, and weather resilience. For solar inverters, you should be on the lookout for ISOT technology, IP65 protection, and anti-islanding protection. As far as solar batteries go, look for those offering low maintenance and high-temperature performance.

  • Safety Compliance as Per IEC and MNRE

The Indian government has standard safety requirements for all electrical devices, including solar PV systems and components. This ensures that any solar product that you purchase is safe for usage and does not project any safety risks, such as short circuits or fire hazards. Therefore, when looking at solar system prices, always prefer a solar power set-up that is IEC and MNRE compliant. And doing so is all the more essential if you have children in the house or if you live in a region with hot weather conditions.

While these are the main things to keep in mind when exploring solar system prices, you should also consider the warranty coverage. Although this varies from one seller to another, PV panels come with an average warranty period of 10 to 12 years, whereas solar inverters and batteries typically have 2 to 5 years of warranty.

Lastly, make sure to buy the solar PV system from a reliable, trusted, and reputable company like Luminous. Luminous has been in India’s solar solution market for over a decade, offering customers high-quality and high-performance products at affordable prices. Even better, they offer a range of installation services, so do visit their website today!

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