The Solar Choice Price Index provides a monthly update of the cost of solar across Australia, and the latest update shows that solar PV systems have reached an all-time low for residential and commercial customers.
The average price for all solar system prices dropped on average by approximately $200 at the beginning of November, with Melbourne and Brisbane remaining the most expensive cities in which to install a PV system despite reductions there as well.
One reason for the high price in Melbourne is that Victorian installers are also responsible for a portion of the work done in Tasmania, therefore ticking the cost for Melbourne up slightly.
Sydney and Perth continue to be the cities with the lowest-priced systems in the country.
With a decrease in system cost has come a reduction in the cost per watt. Compared to October 2012, the cost we per watt is now approximately 9 cents cheaper across the board, with Melbourne seeing the greatest decrease at around 20 cents per watt. At the beginning of October, the average cost per watt for a 1.5kW system was $2.82, compared to $2.50 per watt at the beginning of November — the average cost of a 5kW solar PV system in Melbourne has dropped by 34¢ per watt.
Overall, the cost of systems have dropped considerably in such a short time, including the price of high-end premium systems.
Compared to the beginning of October, a premium 1.5kW system can be almost $1,000 cheaper, 2kW or 3kW premium systems may be $3,000 less expensive, the maximum cost for a premium 4kW system is nearly $6,000 less expensive, and the top price for a 5kW system has been reduced by over $6,000.
This article was first published on CleanTechnica. Reproduced with permission.