When comparing the cost of bifacial solar panels to traditional monofacial solar panels in the long run, several factors come into play. Here’s a breakdown of the key considerations:
Initial Cost
- Bifacial Panels: These panels are more expensive upfront compared to monofacial panels. They typically cost about 5% more per panel due to their dual-sided technology. The additional cost can also stem from required installations like ground mounts or solar tracking systems, which can add $600 to $1,200 extra for a 6 kW system.
- Monofacial Panels: Traditionally less expensive, monofacial solar panels are often the more budget-friendly option for immediate setup costs. For a medium-sized home in the UK, monofacial systems cost around £4,000 to £5,000 including installation.
Long-term Benefits
- Energy Yield: Bifacial panels offer a higher energy yield, typically ranging from 6% to 10% more than monofacial panels, depending on installation conditions. This increase can lead to greater savings over time as more energy is produced from the same system size.
- Levelized Cost of Energy (LCOE): To assess long-term value, LCOE calculations are crucial. These consider not just the upfront cost but also ongoing performance and factors like system design, location, and balance of system components.
Cost Trends and Tariffs
- Future Costs: The cost of bifacial panels is expected to decrease. Predictions suggest a drop by about 23% in the next five years, making them more competitive with monofacial options.
- Tariff Exemptions: Bifacial panels were exempted from certain tariffs by the U.S. government, potentially reducing costs for consumers by allowing access to cheaper international options.
Conclusion
In the short term, bifacial solar panels are more expensive. However, their increased energy production over time can offset these initial costs. As the technology advances and prices decrease, bifacial panels may become a more financially appealing option in the long run.
Long-term Cost Comparison
| Feature | Bifacial Panels | Monofacial Panels |
|---|---|---|
| Initial Cost | More expensive upfront, ~5% more per panel. | Less expensive initially. |
| Energy Yield | Higher energy yield, 6-10% more efficient. | Lower energy yield compared to bifacial. |
| Long-term Benefits | Increased savings due to higher energy yield. | Lower cost upfront but potentially less savings. |
| Cost Trend | Expected to decrease by about 23% over five years. | More stable cost trends historically. |
| Tariff Considerations | Exempt from certain tariffs, possibly lowering costs. | Not exempt, potentially higher costs due to tariffs. |
In summary, while bifacial solar panels are initially more expensive, their potential for increased energy production and future cost reductions can make them more economical in the long term.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-cost-of-bifacial-solar-panels-compare-to-traditional-ones-in-the-long-run/
