Types of Solar Panels and Their Effect on Solar Panel Price

The type of solar panels you choose plays a big role in the overall system price. Generally speaking, more efficient monocrystalline and polycrystalline solar panels have a lower cost per watt.

Other factors that can impact solar panel prices include your location and the racking equipment you select. These factors can vary by state.

Monocrystalline

Monocrystalline solar panels are often the most efficient option for homeowners. They have higher power density and more wattage per panel, meaning they can convert more sunlight into energy than other types. However, this type of solar panel is more expensive than other options.

They are created using a method called Czochralski, which involves creating large circular ingots of pure single-crystal silicon. These ingots are then sliced into wafers that are used to make solar cells.

The crystalline nature of these solar panels makes them resistant to corrosion, making them a long-term investment. They also produce more energy than polycrystalline models.

A key feature of monocrystalline solar panels is that they are black, which helps them blend in with your roof. They are more subtle in appearance than polycrystalline panels, which have a blue hue. Polycrystalline solar panels can be more affordable than monocrystalline options, depending on the size and location of your home. They also have a shorter lifespan than monocrystalline solar panels.

Polycrystalline

The upfront cost of polycrystalline solar panels is lower than monocrystalline. However, Optivolt notes that the electricity yield is often lower as well, leading to a longer payback period and less total savings over time. This is why monocrystalline is the preferred option for most homeowners.

Like mono, they use single silicon ingots to create a cube-shaped wafer, but the rounded edges are shaved off to reduce wasted space. The resulting octagonal shape fits more crystalline silicon cells into a panel, making them less expensive to produce.

While poly is less costly to manufacture, its efficiency rates fall below mono’s (17% to 22% range). Additionally, poly has a higher temperature coefficient, which means they lose more power production with each degree that they heat up. They also tend to have a speckled blue hue and grainy texture that some customers find less visually appealing. The good news is that the difference in efficiency doesn’t affect federal tax credits and other rebates.

Thin-Film

Thin-film solar panels are flexible, lightweight and have a smaller carbon footprint. They use photovoltaic substances like cadmium telluride, amorphous silicon or copper indium gallium (di)selenide (CIGS) that are deposited on a substrate and then connected to a circuit.

The main advantage of thin-film is that they are much cheaper to manufacture. This has made them popular for large-scale projects such as solar farms, corporate solar or community solar.

However, they also have a lower efficiency and a shorter lifespan than other solar panel types. This has limited their market share but they may grow significantly in the future.

Thin-film solar panels are also easy to install, which makes them a great option for rooftop or open spaces that need to be covered with energy-generating panels. They can be attached to any surface and require less equipment than crystalline solar panels. This is a key factor when it comes to installation costs. They can be a great option for your next home or business project.

Concentrated Photovoltaic

A solar power system’s performance is negatively impacted by long term heat accumulation, so it needs to be kept at or below a certain temperature in order to maintain its optimal performance. This is why concentrated photovoltaic solar energy systems utilize a variety of advanced cooling methods to keep their photovoltaic modules at or below the temperature at which they perform best.

As a result, CPVs are typically more expensive than lower concentration PV systems. However, the higher cost for a CPV system is partially offset by lower overall installation costs due to the less complex active or passive cooling systems required and a lower PV module area per generated electricity (J*VArea).

Homeowners can also reduce the initial price of their solar energy system by pursuing local solar incentives. Many states, counties, cities, and investor-owned utilities offer a wide range of incentives for solar panel purchase and installation. It’s well worth spending 5-10 minutes researching the various solar incentives available in your area to help you understand your specific potential upfront investment for a solar power system.

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