Although high-efficiency solar panels are expensive, they have several benefits. Plus, the energy savings from solar power can help you recoup the higher upfront costs over time. Here are some benefits of highly efficient solar panels
Use space efficiently
Highly efficient modules convert maximum sunlight into electricity, allowing more efficient use of roof space. For example, compared to panels with 10% efficiency, panels with 20% efficiency can generate twice as much electricity per square foot. In other words, highly efficient solar panels produce more energy using fewer panels.
If space for your photovoltaic array is limited, you can get maximum power output with monocrystalline solar panels.
This provides high energy savings.
Monocrystalline panels are more efficient and powerful than polycrystalline panels of the same size. For example, if you compare solar modules with 60 cells, you can get a polypanel with a power of 300 watts (W) and a monopanel with a power of 370 W. Below is an example of how solar panel wattage can affect your system size and energy savings.
- If you have room for 20 panels on your roof, you can get a total system power of 6 kilowatts (kW) with polycrystalline panels and 7.4 kW with monocrystalline panels.
- A 6kW solar-favorable system can generate over 9,000kW of usable electricity each year, while a 7.4kW system can generate over 11,000kW.
- Assuming you pay 16 cents per kilowatt for electricity, a 6 kW system could save you about $1,440 on your annual power bill, while a 7.2 kW system would save you $1,760.
According to our March 2023 survey of 1,000 solar homeowners, the average cost of solar panels is $2.85 per watt. Monocrystalline panels are more expensive than polycrystalline panels because they have higher energy. However, when comparing both types of panels on a price per watt basis, there is little difference in price.
Less exposure to high temperatures.
All solar panels lose a small amount of watts when they heat up. This effect is temporary: after cooling, the panels restore their lost performance characteristics. However, if you continually expose your solar panels to hot weather, yield loss may increase over time. As a result, high temperatures reduce the efficiency of solar panels by 10–25%.
Solar panels have a temperature rating that describes the negative effects of heat. For example, a panel with a coefficient of -0.40% in degrees Celsius will lose 8% of performance for a 20°C increase in temperature. Monocrystalline panels on average have lower temperature coefficients than polycrystalline panels, meaning they are less affected by heat. This is a big advantage in hot regions where high temperatures can affect the performance of solar panels over time.
Eligibility for additional solar benefits
Many solar energy programs calculate financial incentives based on the output per watt of your solar system. Because high-efficiency panels have higher wattage, they can qualify for higher wattage ramp rates. However, this does not apply to motivational programs with permanent discounts.
The Federal Solar Tax Credit is a nationwide incentive that allows you to claim 30% of your solar system costs as a tax credit per year of panel installation. Because monocrystalline panels are more expensive, the overall cost of your system may be higher than if you used polycrystalline panels. Thanks to this, you will see more tax benefits with each panel.
