What is the cost of enough solar panels to power your home?

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solar power home
Image by UNDP in Europe and Central Asia
Solar panels on the roof of a stable in Croatia offer hope that remote communities can access power at a fraction of the cost of extending the electrical grid.
Photo courtesy of Suncica Plestina/UNDP in Croatia.

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Question by Christopher: What is the cost of enough solar panels to power your home?
I live in Sydney and was wondering how much solar panels would cost, initial price, installation and insurance on the panels, enough so they would be able to cover the average home power usage

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5 Responses to What is the cost of enough solar panels to power your home?

  1. On average, it costs a bit over $ 10,000

    But the payback period (how long until you actually save enough money so that it pays for itself) is like, 20 years.

    January 10, 2014 at 6:59 pm

  2. The cost can vary widely. The panels themselves aren’t even the major cost. It’s the transformer that costs the most. Installation will also vary based on who you hire. Check and see if your government will help you with the cost in some way. I’ve heard of people that got it done for a few thousand, and others that had to pay tens of thousands.

    January 10, 2014 at 7:28 pm

  3. The cost could be anywhere from 10k to 20k or even above depending on how big is the house.
    The payback depends on several factors such as the investments, usage, grants available and could vary from 8 to 20 years.


    Your Guide
    January 10, 2014 at 8:09 pm

  4. Prices are going up even for electricity recently…. A single solar panel can be bought for around $ 300 dollars. And that is not the installed price. Of course one solar panel is not going to power your home. A single panel produces about 36 volts or about 75 watts.
    A solar power panel system large enough to power an average energy efficient home will cost around $ 30,000 to $ 40,000 dollars. That is for a 5000 watt or 5 kilowatt system.

    January 10, 2014 at 8:54 pm

  5. Cost of solar panel systems attached to the grid without batteries will run you about $ 15k after removing the rebates.

    Bobby Tangeray
    January 10, 2014 at 9:52 pm

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