The cost comparison between bifacial and monofacial solar panels over time reflects a trade-off between higher initial investment and improved long-term value mainly due to energy production differences.
Initial Cost Differences
- Monofacial panels are generally more affordable upfront. For example, the cost of a monofacial solar panel system for a medium-sized home may range from about £4,000 to £5,000 including installation.
- Bifacial panels tend to be more expensive initially, with typical system costs for a similar home size between £5,500 and £6,600, and larger homes costing even more. This premium is due to their dual-sided technology that increases efficiency and manufacturing complexity.
Performance and Efficiency Impact
- Monofacial panels capture sunlight on only one side and have efficiencies typically between 15-22% depending on technology.
- Bifacial panels absorb light on both the front and rear surfaces, potentially boosting efficiency by 5-30% depending on installation and ground reflectivity (albedo). This can lead to up to about 30% efficiency under optimal conditions.
Return on Investment and Cost Over Time
- While bifacial panels involve higher upfront costs, their increased energy yield (typically 6-10% more electricity generation compared to monofacial PERC modules) can improve returns over the panel lifetime.
- This energy gain translates to a better return on investment, especially in large-scale or well-optimized installations where higher efficiency reduces the levelized cost of energy (LCOE).
- Monofacial panels remain a practical choice for cost-sensitive projects and many residential rooftop installations due to their lower initial costs and simpler installation.
In summary, bifacial solar panels cost more initially but tend to offer greater energy output and better financial returns over time, making them potentially more cost-effective in the long run compared to monofacial panels. Monofacial panels, however, still hold an advantage in upfront affordability and remain widely used for smaller-scale or budget-conscious projects. The choice depends on specific installation conditions, panel efficiency, and energy needs.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-cost-of-bifacial-panels-compare-to-monofacial-panels-over-time/
