The Price of a Solar Power System

In New Zealand, grid-connected solar power systems now cost less than a quarter of what they cost 14 years ago. This massive drop in the prices of solar panels and other system components makes solar power more affordable than ever. A solar investment is now achievable for many, not just a few.

Back in 2008, a standard 3 kW solar power system cost around $40,000. In 2024, the price tag of a 3 kW solar power system is approximately $9,000* (completely installed).

Due to supply chain issues and increased global demand for solar, prices increased in 2022 and 2023.  But these prices are now coming down again in 2024.

Please use our free 3 solar quotes service to ensure you have competitive quotes with the latest prices.

What Is The Price Of A Typical Solar Power System In New Zealand?

Solar power system prices are largely dependent on the system's size and the type of roof the system is installed on.  Below is a small sample of residential system sizes in New Zealand and their rough pricing.

Prices were last updated on 09/07/2024

*Please only use these prices as a guide.  The solar power system prices assume straightforward installation on a metal roof. Prices can vary based on a number of factors.

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Is Solar Power Worth It?

A solar power system in New Zealand can easily earn a 10 to 15% return on investment.  But this rate of return is likely to increase each year as the price of electricity continues to climb.

Unsure if solar panels on your roof will be worthwhile or if the upfront cost will lead to a good payback?  Use our solar calculator to find out how much solar power can be generated on your roof each year and what you will be able to save.  Try out the solar calculator here.

Different Roof Types Will Affect The Final Price

Installing a system on a metal/tin roof is generally easier and uses fewer components, therefore has a lower cost. Tile, bitumen and shingle roofs are likely to have a higher solar panel installation cost due to the extra mounting components. Tilting panels to a higher angle on flat roofs might be a requirement that could also infer extra cost.

Other Factors That May Affect The Total Price

• Switchboard Upgrade - If the existing one is too old and non-compliant, or doesn’t have enough room for the solar switches.
• Scaffolding - may be required for homes with 2 stories or more.
• Travel Cost - For locations that are rural or far away from the solar installer’s base, a travel cost may be incurred for the installation.
• Lines company charges - Some local lines companies don't charge to connect a solar power system to the grid, while others will charge a fee between $100 and $200 for administration fees to accept your solar power system’s export of excess power into the grid. Find out every lines company solar fees here.

Buyers Guide for Solar Power in New Zealand

The 2022 edition of the My Solar Quotes Buyers Guide for home solar panel installations takes you through the steps of purchasing a solar power system for your home, and the factors you will need to consider at each step.  The guide includes ‘how to avoid dodgy traders’ and ‘details to look out for when comparing quotes’. View the solar power buyers guide here.

Watts The Price of a Solar Power System?

If you like talking and thinking in watts, the average solar power price per watt is now around $2.50/Wp (watt-peak, the maximum electrical power from a solar panel under standard conditions).  This price takes into account the entire cost of the system.

Solar Panels NZ Price

Curious about the individual price of a solar panel? A solar panel is just one of the many components that make up a complete system, and it's often the most discussed. One 390W solar panel costs approximately $300. Find out how to choose solar panels here.

Should I Wait For The Price Of Solar To Fall?

The price of a solar power system has plummeted dramatically over the last decade, so we don't expect similarly drastic price drops in the future. Expect to see a 3 kW solar power system drop no more than a few hundred dollars every year, or even increase slightly.

In a few years a new solar power system's cost could fall, but the savings made on power bills (with a solar power system installed today) would mean greater savings in the long term.

There hasn't been a revolutionary change in solar power technology over the last 10 years - the energy collection concepts remain the same, but the technology gets incrementally more efficient yearly. The term efficiency in the solar world means the efficiency at which the panel converts sunlight into power.  At present, the average efficiency of a quality monocrystalline panel is 20.5%. According to GTM research, conventional panels are likely to improve by approximately 0.3% annually, which isn't fast by any means.

Are There Subsidies For Solar in New Zealand?

New Zealand has no subsidies or incentives for homeowners to install solar power systems. The Government did provide subsidies for solar hot water systems for a few years, but that was never applied to solar PV (photovoltaics).

Solar Battery Prices

Batteries can be used to store solar power for use at night, during times of peak electricity demand and during blackouts. Learn more about solar batteries here.

Prices for a battery storage system accompanying a grid-connected solar power system will largely depend on the battery’s storage capacity, followed by the brand's reputation, quality and special features.

Generally, the more storage capacity is installed, the more expensive it is.  Find out if solar batteries are worth the cost or see the approximate prices for lithium-ion solar batteries.

Note: All prices include GST

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Solar Power Prices and How My Solar Quotes Can Help You Get them!

For a quick and easy way to start your solar power price comparison, click here to get 3 free solar power quotes.