When looking for a solar inverter, you want to know how much you’ll be paying for it. But the solar inverter price can vary widely, and your research may not yield a definite answer. If you’re in that predicament, read this post to the end. It will help you to understand the factors that determine inverter prices. We also included the cost estimates of specific inverters.
How Much is a Solar Inverter?
There is no definitive answer to this question. With so many different types of inverters, brands and other variations, inverter price differences can be so wide. That said, you can easily narrow down your options when seeking to know the price range; by understanding the factors that influence cost. They are:
Solar Inverter Type
The type of inverter you choose will have the biggest impact on the price. There are 5 main options: central inverters, string inverters, micro inverters, DC power optimizers, and hybrid inverters. Here’s what to expect while out there shopping.
- A central inverter is a large string inverter. These are the most expensive of all. However, you’ll hardly need them in a home or small solar installation.
- String inverters are the most common types- and the least expensive. You will need these if your panels are not obstructed or you live in a place with plenty of sunshine.
- Micro inverters are the newest type of inverter on the market and quite expensive. The microinverter price depends on the brand, output, and number of units you purchase.
- Power optimizers are paired with string inverters to maximize the efficiency of the solar system. These are more expensive than string inverters, but less costly than microinverters.
- Hybrid inverters, on the other hand, are generally expensive, given their design to offer more than the regular inverter.
Solar Inverter Efficiency
The efficiency of your solar inverter will also influence its price. Those with higher efficiencies typically cost more, but they can save you money in the long run by minimizing power losses. The best solar inverter price when efficiency is a factor will depend on many things, though, such as size, features, and more.
Solar Inverter Capacity
Needless to say, the solar inverter price largely depends on its size. Inverters with higher capacities are more expensive. However, they produce more electricity and can handle larger solar arrays. Inverter capacity is measured in terms of watts and kilowatts. A 5Kw string inverter for example, may cost around $1000, while 10Kw string inverter may cost around $2000. These are only estimates.
Inverter technology is constantly evolving, so the prices are always changing. Models that come with newer features will, no doubt, cost more than older models. A careful solar inverter comparison should help you discover technologies that are making a particular product more costly and if the price is justified. Most of the time, it is.
Inverter Manufacturer Price
With the free market, different solar inverter companies can set their own prices. Also, two different companies will rarely have the same price for the same type of the product. That said, technologies specific to a manufacturer will mean that they have to charge more.
The Solar Inverter Price
So, how much is a solar panel inverter? Having looked at the factors that determine solar inverter costs, it’s now time to give you an estimate of what you can expect to pay. Keep in mind that the prices are only estimates and the actual inverter cost will vary depending on the factors we discussed earlier.
Central Inverter Price
As mentioned at the onset, central inverters tend to be more expensive than string inverters. The price of a central inverter can range from $2000 to over $5000 or higher, depending on the size and output of the unit. The central inverter price is understandably high given its larger size.
String Inverter Price
String inverters are the most commonly used type of solar inverter, so it should come as no surprise that they are also the most affordable. The solar string inverter price can range from around $300 to $1000, depending on its capacity and efficiency. However, larger and more sophisticated inverters will cost more.
Micro inverters are the newest type on the market and, therefore, understandably more expensive. The price of micro inverters can range from around $200 to $400 depending on the brand, output, and number of units you purchase. The solar microinverter price also depends on its quality, with higher-end models costing more.
Power Optimizer Price
Power optimizers are not inverters, but are used in conjunction with string inverters to maximize the efficiency of the solar system. The solar devices cost around $100 to $200 per unit. The power optimizer price is dependent on several factors and prices may vary outside of the mentioned range.
Hybrid Inverter Price
To maximize the electrical efficiency of your solar system, you may want to consider a hybrid inverter. The price of hybrid solar inverter can range from around $500 to over $1000, depending on its capacity and features. As you can see, the inverter is one of the most expensive. However, it makes a great choice in many different situations.
Best Solar Inverter Price
Of course, there is no one-size-fits-all answer when it comes to the cost of solar inverters. Different people will prefer different types of the product. Ultimately, the best solar inverter price will depend on your needs and other considerations such as budget.
To get the best deal, it is important to do your research. Compare solar inverter quotes from different manufacturers before making a purchase. This is especially important when looking for solar inverters for sale in your business. Overall, expect to spend anywhere from $300 to over $5000 for the product.
Wholesale prices may be a bit lower. However, you may also want to consider other factors such as the quality of the product and long-term reliability when shopping around. In general, it is best to seek out reputable inverter manufacturers that offer solid warranties for their products. This will give you peace of mind knowing that your investment is well protected.
The price of a solar inverter is determined by many factors and the best way to find costs is by comparing quotes from different manufacturers. If looking for an inverter to use in your home or business, be sure to research its features. That’s because some technologies are useful while some are not. To sum it up, let your specific needs dictate what you pay for.