Cost Per Solar Panel Calculator

Formula

The formula to calculate the Cost Per Solar Panel (CPS) is:

\[ CPS = \frac{CS - VE}{SP} \]

Where:

CPS – The cost per solar panel in dollars ($/panel).
CS – The cost of the entire system in dollars ($).
VE – The expected value of the electricity generated by the solar panels in dollars ($).
SP – The number of solar panels.

Definition

Cost Per Solar Panel (CPS): The average cost of one solar panel, calculated by subtracting the value of the energy generated from the total cost of the system and dividing by the number of panels.
Cost of the Entire System (CS): The total cost of installing the solar panel system.
Expected Value of Electricity Generated (VE): The estimated monetary value of the electricity generated by the solar panels.
Number of Solar Panels (SP): The total number of solar panels in the system.

Example

Let's say the cost of the entire system (CS) is $20,000, the expected value of the electricity generated (VE) is $5,000, and the number of solar panels (SP) is 50. Using the formula:

\[ CPS = \frac{20000 - 5000}{50} = \frac{15000}{50} = 300 \text{ dollars per panel} \]

So, the cost per solar panel is $300.

What is the Cost Per Solar Panel?

The cost per solar panel is the average cost of one solar panel, typically ranging between $100.00 and $500.00. This cost is calculated by subtracting the value of the energy generated from the total cost of the system and dividing by the number of panels. Understanding this cost helps in evaluating the financial feasibility and return on investment of a solar panel system.