Exploring Solar Panels: Types, Prices, and Subsidies

ByCaesar Reading Time: 6 minutes

In recent years, the popularity of solar panels has soared as people seek eco-friendly and cost-effective energy solutions. With advancements in technology and government incentives, harnessing solar power has become more accessible than ever. Let’s delve into the world of solar panels, exploring their types, prices, and government subsidies, particularly focusing on the Indian market in 2024.

What is a Solar Panel?

Let’s start with the basics. A solar panel, also called a photovoltaic (PV) panel, is a device that turns sunlight into electricity. It’s made up of many solar cells, usually made of silicon, a type of material that conducts electricity. When sunlight shines on these cells, they make an electric field, which produces direct current (DC) electricity.

Different Types of Solar Panels

Bifacial Solar Panel 

Bifacial panels have the unique ability to capture sunlight from both sides, increasing energy production. They are ideal for locations with high reflectivities, such as snowy areas or buildings with white roofs. While they offer higher efficiency, their cost is slightly higher compared to traditional monofacial panels.

DCR Solar Panels

Domestic Content Requirement (DCR) panels are manufactured using components sourced locally, promoting indigenous production and reducing dependency on imports. This not only boosts the domestic solar industry but also contributes to job creation and economic growth.

TOPCon Solar Panel

Tunnel Oxide Passivated Contact (TOPCon) panels utilize advanced cell structures to achieve higher efficiency and performance. By minimizing energy losses and improving light absorption, TOPCon panels deliver superior output even in challenging environmental conditions.

Monocrystalline Solar Panel

Monocrystalline panels are crafted from single-crystal silicon, offering higher efficiency and a sleek black appearance. Their uniform structure and high-purity silicon make them more efficient in converting sunlight into electricity. Although they come at a higher cost, their space-saving design and durability make them a popular choice for residential and commercial installations.

Polycrystalline Solar Panels

Polycrystalline panels use many silicon crystals, making them less efficient than monocrystalline panels. But they’re cheaper and work well for big installations where space isn’t a problem. Their blue shade and less uniform appearance distinguish them from monocrystalline panels.

Thin-Film Solar Cells

Thin-film panels are light and bendy, so you can use them in lots of different ways. They’re great for things like putting on buildings to make electricity, and you can even use them in small gadgets you can carry around. They are composed of layers of semiconductor materials deposited onto a substrate, offering flexibility in design and installation. While they have lower efficiency compared to crystalline silicon panels, they excel in low-light conditions and high temperatures.

Amorphous Silicon Solar Cell

Amorphous silicon panels are cost-effective and exhibit good performance in diffuse sunlight. They are commonly used in small-scale applications like calculators and outdoor lighting. Their non-crystalline structure makes them less efficient than crystalline silicon panels but more affordable for budget-conscious consumers.

Biohybrid Solar Cell

These innovative cells combine biological materials with traditional semiconductor materials to enhance efficiency and sustainability. By mimicking natural processes such as photosynthesis, biohybrid cells offer a promising avenue for renewable energy research. 

While still in the experimental stage, biohybrid cells hold immense potential for future solar technologies, offering a sustainable alternative to conventional photovoltaic materials.

Solar Panel Price Details in India

When considering solar panels for your energy needs, it’s important to understand the pricing structure and options available in the market. In India, solar panel prices vary based on factors such as capacity, technology, and brand. Let’s explore the latest price details and options for solar panels in 2024.

  1. Capacity Options: Depending on your energy requirements, you can choose from a range of solar panel capacities. These include 10-watt, 20-watt, 55-watt, 75-watt, 225-watt, 450-watt solar panels, and the high-capacity 550-575-watt shark bi-facial solar panels. Sometimes referred to as solar plates, these panels come in various sizes to suit different applications.
  2. Per Watt Price: The per watt price of a single solar panel in India in 2024 varies depending on factors such as technology and quality. On average, the price ranges from Rs. 35.21 to Rs. 100 per watt, inclusive of taxes. For a 1kW solar panel, the cost typically ranges from Rs. 33,000 to Rs. 40,000, excluding taxes and transportation. With the addition of a battery storage system, the maximum price for a 1kW solar panel can reach around ₹ 1,00,000. Additionally, the maximum price of a 575W TOPCon solar panel is approximately half, around ₹ 20,000.
  1. Technology-wise Price List:
    • Cost of 12V Solar Panel in SHARK 225W: Rs. 11,225 + GST & Transportation
    • Cost of 24V Solar Panel in SHARK 455W: Rs. 14,500 + GST & Transportation
    • Cost of 24V Solar Panel in SHARK 450W Bifacial: Rs. 16,750 + GST & Transportation
    • Cost of 24V Solar Panel in SHARK 575W – 700W TOPCon: Rs. 20,250 + GST & Transportation.
  1. Latest Price Range: Here’s a breakdown of the latest solar panel prices by Indian manufacturers, ranging from 10 watts to 575 watts:
    • 10-20 watts: Rs. 350 to Rs. 700
    • 55-75 watts: Rs. 2,000 to Rs. 3,500
    • 225-450 watts: Rs. 11,225 to Rs. 16,750
    • 550-575 watts (Bi-facial and TOPCon): Rs. 20,250 to Rs. 100,000

Solar panels are a great way to make electricity from sunlight in a way that’s good for the environment and doesn’t cost too much. With a variety of options available in the market, consumers can choose the best-suited panels based on their energy requirements, budget, and preferences. 

Additionally, government subsidies and incentives further encourage the adoption of solar energy, making it an attractive investment for both residential and commercial applications. 

As technology gets better, solar panels will become even more efficient and cheaper. This means we’ll have cleaner energy that’s better for the environment.

Government Subsidies Offered on Solar Panel Price

The Indian government wants more people to use solar power, so they offer discounts and perks to make it easier on your wallet. These subsidies are typically offered through state-level agencies or renewable energy departments. Steps to apply for a solar subsidy include.

Research: Understand the eligibility criteria and documentation requirements for subsidy programs in your state. Different states may have varying subsidy schemes and application procedures, so it’s essential to gather accurate information before proceeding.

Choose a Vendor: Select a reputable solar panel vendor or installer accredited by the government to ensure quality products and installations. Look for vendors who have experience in handling subsidy applications and can guide you through the process smoothly.

Documentation: Gather necessary documents such as identity proof, property ownership documents, and electricity bills to support your subsidy application. These documents show you’re eligible and help speed up getting approved.

Application Submission: Submit your subsidy application along with the required documents to the designated authority within the stipulated timeframe. Be sure to fill out the application form accurately and provide all necessary details to avoid delays or rejection.

Approval and Installation: Upon approval, proceed to make sure your solar panel installation follows safety rules and local laws so you can get the subsidy.

Conclusion

Solar panels offer a sustainable and renewable energy solution with long-term benefits for both consumers and the environment. With a wide range of options available, from monocrystalline to thin-film technologies, consumers can choose the best fit for their energy needs and budget.

While the initial investment may seem daunting, government subsidies and falling prices make solar power a viable and cost-effective option for homeowners and businesses alike. By embracing solar energy, we can pave the way for a cleaner and brighter future. 

As technology continues to evolve and governments prioritize renewable energy initiatives, the solar industry is poised for further growth and innovation in the years to come. Whether you’re a homeowner looking to reduce your carbon footprint or a business seeking to cut energy costs, solar panels from Loom Solar offer a sustainable solution for a brighter tomorrow.