How Much Do Solar Panels Cost? In-Depth Analysis of Price Composition and Influencing Factors
The price of solar panels varies significantly, influenced by multiple factors such as power output, type, brand, quality, as well as market supply and demand and raw material prices. Below is a detailed breakdown for you:
I. Price Ranges by Power Output
1. Low-Power Solar Panels
Low-power solar panels are commonly used in small devices or experimental scenarios, with typical specifications like 10W and 15W.
- For polycrystalline silicon models: A 10W polycrystalline solar panel costs approximately ¥65.65, while a 15W polycrystalline solar panel is around ¥4.2 per unit for bulk purchases.
- For monocrystalline silicon models: A 10W monocrystalline solar panel is roughly ¥4.3.
These panels are affordable due to their low power output and minimal material usage, making them suitable for consumers with limited budgets and low electricity needs—such as powering small garden lights or charging toys.
2. Medium-Power Solar Panels
The 100W–300W range is widely used in residential distributed photovoltaic (PV) systems.
- A 100W monocrystalline solar panel has a broad price range, from ¥70.59 to ¥707.85.
- For 150W solar panels, the price per watt on the international market generally falls between $0.05 and $0.75. Converted to RMB, a single 150W panel typically costs ¥30 to ¥50.
- Higher-power models like 450W monocrystalline solar panels have a price per watt of approximately ¥0.57 to ¥1.00.
Medium-power panels are ideal for supplementing daily electricity needs in ordinary households, as they can power lighting and small home appliances.
3. High-Power Solar Panels
Panels with 400W or higher output are mainly used in large industrial power stations and centralized PV plants.
- Large industrial-grade panels with 580–605W output cost about $46 per unit, with a minimum order quantity (MOQ) of 36 units.
- A complete 5kW solar panel system generally ranges in price from ¥42,500 to ¥50,000.
High-power panels have strong electricity generation capabilities and can meet large-scale power demands, but they require high upfront investment—making them suitable for enterprises or projects with large installation spaces and sufficient capital.
II. Price Differences by Panel Type
1. Monocrystalline Silicon Solar Panels
Made from high-purity monocrystalline silicon with an ordered crystal structure, these panels boast a high photoelectric conversion efficiency of 20%–25%. Due to their complex production processes and high requirements for equipment and technology, their prices are relatively high:
- The price per watt typically ranges from $0.5 to $1 (equivalent to ¥3.5 to ¥7).
- Common 450W–550W monocrystalline panels cost between ¥315 and ¥640 per unit.
They are suitable for scenarios where high-efficiency power generation and limited installation space are priorities, such as urban rooftop PV systems.
2. Polycrystalline Silicon Solar Panels
Using polycrystalline silicon as the raw material, these panels have a relatively disordered crystal structure and a conversion efficiency of 15%–20%. Their production process is simpler, leading to lower costs and more affordable prices:
- The price per watt usually ranges from $0.4 to $0.8 (equivalent to ¥2.8 to ¥5.6).
- For example, a 10W polycrystalline panel costs approximately ¥65.65.
Thanks to their cost advantages, polycrystalline panels are widely used in large-scale ground-mounted PV power stations.
3. Thin-Film Solar Panels
Manufactured using thin-film materials such as amorphous silicon, cadmium telluride (CdTe), and copper indium gallium selenide (CIGS), these panels feature simple production processes and low costs:
- The price per watt is roughly $0.3 to $0.6 (equivalent to ¥2.1 to ¥4.2).
- The price per square meter of thin-film panels typically ranges from ¥100 to ¥200.
Although their conversion efficiency is relatively low (10%–15%), they offer advantages like being lightweight, flexible, and performing well in low-light conditions. They are suitable for special installation needs, such as building-integrated PV (BIPV) projects and portable solar devices.
III. Other Key Factors Affecting Prices
1. Brand and Quality
Well-known brands prioritize product R&D, quality control, and after-sales service, resulting in stable performance and long lifespans. For example, leading brands like Longi and JinkoSolar often price their products 10%–20% higher than smaller, lesser-known brands. A 300W monocrystalline panel from a top brand may cost more than the same-specification product from a small brand, but it offers higher cost-effectiveness in terms of long-term use and power generation returns.
2. Market Supply and Demand
When market demand for solar panels is strong—such as during periods of vigorous policy promotion for new energy—supply shortages can drive up prices. Conversely, if market capacity exceeds demand, prices tend to fall. For instance, in March 2025, the spot price of distributed PV modules rose by 33% from the end-of-2024 low to ¥0.8 per watt, a direct result of tight supply and demand.
3. Raw Material Price Fluctuations
Polysilicon is a core raw material for solar panel production, and its price fluctuations directly impact panel costs. If polysilicon prices rise, solar panel prices will follow suit. Additionally, auxiliary materials like N134 carbon black are affected by fluctuations in oil and natural gas prices, which indirectly influence module costs.
4. Purchase Quantity
Bulk purchases qualify for price discounts—generally, the larger the order quantity, the lower the unit price of each panel. On platforms like Alibaba, many manufacturers set tiered pricing based on order quantity. For example, a 150W solar panel with a minimum order quantity of 1000Wp is priced at $0.13–$0.15 per watt, while small-quantity purchases cost significantly more.