Introduction
When shopping for solar, everyone wants to make the best investment they can. While higher efficiency solar panels may seem like the obvious choice, their cost can often outweigh the benefits. What really matters is the affordability of the energy generated by the solar panels, and the longevity of each solar panel.
What is solar panel efficiency?
Efficiency is a measure of how much sunlight a solar panel can convert into usable electricity under laboratory conditions. In a perfect world, higher efficiency is better. However, it is often very expensive to get the highest-efficiency panels. It is often a much better value to focus more on the overall cost and size of the solar system.
The overall cost and size of the solar system play a crucial role in determining the affordability of the energy generated by the solar panels. The cost per watt of a solar system is a better indicator of its overall value than just its efficiency rating (referred to as $/W). A larger and “less efficient” solar system may be a better value than a smaller, higher efficiency system, since it typically is a lower investment for the same amount of energy (kWh). While it’s easy to associate “high efficiency” with “high quality”, this is typically just marketing hype. Most panels on the market are very reliable. What matters is long-term performance and reliability.
Which solar panels provide the best long-term value?
It’s important to note that solar panels are a long-term investment. The average lifespan of a solar panel is around 25 to 30 years, and the energy produced by a solar system can provide significant savings on utility bills over that time. Since efficiency doesn’t translate to any savings or value on its own, we encourage homeowners to focus on the overall cost and size of the solar system, as well as warranty, company stability, and low-degradation rates.
Warranties can vary from panel to panel, as can the degradation rates. A panel with a low degradation rate means it will produce more power over time, because it will not degrade as fast as others. Most REC panels have very low degradation rates, which is typically what we recommend. They also offer one of the best warranties in the business with their REC Pro Trust warranty (as long as your installer is certified, you should get the extended warranty coverage).
Look for companies that have solid financials, and that have been established for a longer period of time. Newer manufactures are more prone to manufacturing mistakes, but also are more likely to go under. With a 25-year warranty, it’s important that your panel provider is around to honor it should a problem arise.
In conclusion, while efficiency is important, it should not be the only factor to consider when choosing a solar panel or a solar system. By focusing on the overall cost, quality and reliability of your solar panels you can ensure that you get the best solar system for your home or business.