A 5,000 WATT( 5 KW ) SOLAR SYSTEM INFORMATION AND PRICING
A 5000W solar power system is a size that should easily offset a typical home’s electricity usage. If it doesn’t, then you’ve got one serious energy guzzler of a home and should really consider an energy audit before going solar!
5 kW solar systems are also the minimum system size you should be considering if you’re looking to add batteries to your system in the future. Here’s what you need to know about 5kw solar system price and other information.
How many solar panels will you need?
To make up a 5kW solar system, you need 17 solar panels, assuming you use 300W panels – that will actually give you 5.1kW.
Each panel will be about 1.6m x 1m, so you’ll need at least 17.2m² of roof space.
How much electricity will a 5kW solar system generate?
A 5kW solar system will generate approximately 20kWh per day, depending on your location and a variety of other factors. The average home in Australia uses about 16kWh per day.
Note that this does not mean installing a 5kW solar power system will automatically give you a $0 electricity bill, as most households use the majority of their electricity at night when the sun isn’t shining – I talk about this in greater detail here.
How much money will a 5kW solar system save?
You may be thinking: “If the 5kW system offsets my energy usage, then surely it’s going to wipe out my electricity bill?”
Unfortunately it is not that simple! The amount the electricity companies will pay you for your solar energy (what’s known as a feed-in tariff) is, way lower than the price they charge you to buy the same electricity from the grid! Plus, there’s other costs on a bill such as supply charges, aka service charges. However, a 5kW solar power system is still an excellent investment.
Let’s say you get paid about 8c per kWh for exported energy (some retailers offer more) compared to 30c per kWh to buy electricity back from the mains grid. Here’s 3 scenarios to show how the 5kW system payback works:
- Use all the solar electricity by the 5kW systems in your home. This is unlikely unless you have a mini aluminium smelter in your back garden – or you operate a small business from your home.
If that were your situation, you would save approximately $2100 in the first year, and around $67,000 over 20 years; taking electricity inflation of 5% into account. Those are some serious savings.
- Export half the electricity: You would save about $1400 in the first year.
- Export all the electricity: You would save about $700 in the first year with a 5kW system.
How much does a 5kW solar power system cost?
The cost of a 5kW solar system will be around $10,000 before STCs, then you should get about $3,500 subsidy from STCs (aka the solar rebate), which takes a big chunk out of the up-front price. Taking into account the subsidy, expect to pay about $4,500 – $8,000 out of pocket costs for a good quality 5kW system, depending on the components selected and the installer’s approach to installation. Here is a basic price range cost in USA
|5 KW SOLAR SYSTEM PRICE RANGE
|Average cost of 5kW solar system
|$11,400 – $13,600
|$12,700 – $16,700
|$14,250 – $16,950
|$11,600 – $15,300
|$13,700 – $17,300
|$12,950 – $16,750
|$12,100 – $15,800
|$13,250 – $17,650
|$12,350 – $15,750
|$11,700 – $15,100
How long before a 5kW solar power system pays for itself?
If you are not exporting the energy and assuming you’ve paid a reasonable price for a 5kW solar system, then you should see a payback period of less than 5 years – so a fairly rapid payback timeframe. But you can actually be cash flow positive from day one if you get cheap solar finance. It is very easy to finance the purchase so that your monthly energy savings are worth more that the cost of paying back the loan.
It can be a laborious process to find a trustworthy solar installer to provide you with a good-quality 5kW solar power system at a reasonable price.
How is Powerwall Works
Powerwall gives you the ability to store energy for later use and works with or without solar to provide key security and financial benefits. Each Powerwall system includes at least one Powerwall and a Tesla Gateway, which provides energy monitoring, metering and management for the system. The Backup Gateway learns and adapts to your energy use over time, receives over-the-air updates just like the rest of Tesla’s products and is capable of managing up to ten Powerwalls.
When the sun rises, solar begins powering the home. When additional power is required within the home, the home can pull from the utility grid.
Powerwall is charged by solar during the day, when solar panels are producing more electricity than the home is consuming. Powerwall then stores that energy until the home needs it, such as when solar is no longer producing at night, or when the utility grid is offline during a power outage.
The next day when the sun comes out, solar recharges Powerwall so you have a cycle of clean, renewable energy.
If your electricity rates vary throughout the day, Powerwall will charge when electricity costs are low and discharge when electricity costs are high, generating automatic savings. Powerwall will also provide seamless backup power by detecting grid outages and automatically becoming the home’s main power source.
4 Tips for 5Kw system Shoppers
1. Homeowners who get multiple quotes save 10% or more
As with any big ticket purchase, shopping for a solar panel installation takes a lot of research and consideration, including a thorough review of the companies in your area. A recent report by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) recommended that consumers compare as many solar options as possible to avoid paying inflated prices offered by the large installers in the solar industry.
To find the smaller contractors that typically offer lower prices, you’ll need to use an installer network like EnergySage. You can receive free quotes from vetted installers local to you when you register your property on our Solar Marketplace – homeowners who get 3 or more quotes can expect to save $5,000 to $10,000 on their solar panel installation.
2. The biggest installers typically don’t offer the best price
The bigger isn’t always better mantra is one of the main reasons we strongly encourage homeowners to consider all of their solar options, not just the brands large enough to pay for the most advertising. A recent report by the U.S. government found that large installers are $2,000 to $5,000 more expensive than small solar companies. If you have offers from some of the big installers in solar, make sure you compare those bids with quotes from local installers to ensure you don’t overpay for solar.
3. Use LFP battery acturly save the system cost.
People will normally think it is cost much higher to buying a Lithium iron battery storage system. While a Lead acid system cost much lower. But, ignor the cycle life for them. A qualified LFP battery system is rated 3000more life cycles at 80% DOD. while lead acid is 200 times game over. Then you will need to replace a new battery system. If you calculate based on each day expensive. You will find out. LFP battery system is much lower and more efficiency. OSM offer a standard 5000w battery system at 5Kwh a module. This allowd you upgrade for more capacity in future. Here is the product link: 5kwh OSM48100
Easy hang to the wall design.
4. Comparing all your equipment options is just as important
National-scale installers don’t just offer higher prices – they also tend to have fewer solar equipment options, which can have a significant impact on your system’s electricity production. By collecting a diverse array of solar bids, you can compare costs and savings based on the different equipment packages available to you.
There are multiple variables to consider when seeking out the best solar panels on the market. While certain panels will have higher efficiency ratings than others, investing in top-of-the-line solar equipment doesn’t always result in higher savings. The only way to find the “sweet spot” for your property is to evaluate quotes with varying equipment and financing offers.
For any homeowner in the early stage of shopping for solar that would just like a ballpark estimate for an installation, try our Solar Calculator that offers upfront cost and long-term savings estimates based on your location and roof type. For those looking to get quotes from local contractors today, check out our quote comparison platform.
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