Solar panel cost breakdown

Solar panel cost breakdown

What are the costs that go into a home solar installation? How much are the solar panels and what makes up the rest of the costs? We take a look.
 

Cost split for home solar installations

You might expect the biggest cost to be the solar panels themselves. You would be wrong. The cost split, from a recent Ernst & Young report on UK solar, is shown below. This data is consistent with an HSBC report into the solar sector in 2010.
 
Installation costs for Domestic Solar

 

The solar panels make up around 42% of the costs – or £4,200 of a typical £10,000 installation. The inverter adds 10% or £1,000. And the biggest cost? It’s the labour, cabling, roof fixing and Installer profits making up 48% or £4,800 for a £10,000 installation.

 

As we reported in a recent blog, the price of the panels has dropped by half over recent years. Just don’t expect that to mean your quote for a home solar installation will drop by the same amount.