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.
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.