Bifacial solar panels generally have higher upfront costs compared to traditional monofacial panels, but they can lead to greater overall cost savings due to their increased energy production and efficiency.
Cost Comparison
- Upfront Cost: Bifacial solar panel systems are more expensive initially. For example, a typical bifacial system for a small to medium-sized home in the UK costs around £5,500 to £6,600 (including installation), while monofacial systems cost about £4,000 to £5,000. The higher cost of bifacial panels is due to additional materials, layers, and often specialized mounting and inverter systems required.
- Efficiency and Energy Yield: Bifacial panels can absorb sunlight on both sides, potentially achieving efficiency ratings up to 30%, whereas monofacial panels generally range from 15-20% efficiency. This can translate to a 6% to 10% greater energy yield for bifacial panels compared to monofacial panels using PERC technology.
Overall Cost Savings
- Levelized Cost of Energy (LCOE): Despite higher initial costs, the increased energy output of bifacial panels can lower the LCOE, making them cost-effective over their lifespan. The additional energy generation means fewer panels or less capacity might be needed to meet the same energy needs, which can offset the higher upfront investment over time.
- Economic Value: Case studies suggest that the demand value or value of energy from bifacial systems tends to be slightly higher in some conditions, which could improve the financial return in summer months or specific project scenarios.
- Additional Factors: Maintenance costs, panel durability, installation complexity, location, and government incentives also affect the overall cost-effectiveness. Bifacial panels may have comparable durability to monofacial panels but require consideration of local environment and installation factors.
Summary
| Aspect | Bifacial Solar Panels | Monofacial Solar Panels |
|---|---|---|
| Initial Cost | Higher (£5,500–£6,600 for medium home) | Lower (£4,000–£5,000 for medium home) |
| Efficiency | Up to 30% (absorbs sunlight both sides) | 15-20% (absorbs sunlight one side) |
| Energy Yield | 6-10% higher than monofacial | Baseline |
| Installation | More complex, may require specialized systems | Simpler and less costly installation |
| Long-term Savings | Greater due to higher energy production | Lower energy production may increase panel quantity |
| Durability | Comparable (depends on materials and environment) | Comparable |
In conclusion, bifacial solar panels involve higher initial investment but typically offer better overall cost savings due to their higher efficiency and energy yield. This makes them a financially attractive option in locations and projects where the additional energy captured from the rear side is significant.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-bifacial-solar-panels-compare-to-traditional-monofacial-panels-in-terms-of-overall-cost-savings/
