Solar Panel Price in Chennai: 2024-25

2. Factors Influencing Solar Panel Costs

Several factors determine the cost of solar panels in Chennai. Understanding these can help you make an informed decision. 

a) Type of Solar Panel

There are 3 main solar panel technologies dominating the residential solar market and they are mono perc half-cut, bifacial solar panels, and TopCon solar panels. Let’s look at each of these options:

Mono PERC Half Cut Panels

What Are They?
Mono PERC Half-Cut panels are an evolution of traditional monocrystalline panels. They are divided into smaller, “half-cut” cells that improve efficiency and durability by reducing electrical resistance and heat loss.

Key Features:

• Efficiency: 19-22%, higher than standard monocrystalline panels.
• Durability: Lifespan of 25-30 years.
• Performance: Better output in shaded or partially covered conditions.

Why Are They Popular?
These panels are more efficient, durable, and cost-effective, making them ideal for Indian homes where space efficiency and heat tolerance are critical.

Advantages:

• Enhanced performance in hot climates and partial shading when compared to Mono PERC panels
• Cost-effective for residential and commercial installations.
• Long-term reliability with a 25+ year warranty.

Bifacial Panels:

What Are They?
Bifacial solar panels are designed to capture sunlight from both sides, significantly increasing energy generation. The rear side absorbs sunlight reflected off the ground or surrounding surfaces, making these panels highly efficient in specific setups.

Key Features:

• Efficiency: 20-23%, higher than standard panels.
• Durability: Lifespan of 25-30 years.
• Performance Boost: Best performance on reflective surfaces like white cement or tiled roofs.

Why Choose Bifacial Panels?
For homeowners with space and the ability to optimize reflectivity, bifacial panels provide unmatched efficiency and a modern aesthetic. They are particularly suitable for open spaces or elevated installations where the rear side gets ample light.

Advantages:

• Dual-sided energy generation for greater output.
• High efficiency in both direct and diffused sunlight.
• Excellent for modern, aesthetic installations.

Disadvantages:

• Higher upfront cost.
• Requires specific installation conditions to maximize rear-side gains.

TopCon Panels

What Are They?
TOPCon (Tunneling Oxide Passivated Contact) solar panels are an advanced type of bifacial photovoltaic technology designed to minimize energy losses and improve efficiency. They use an ultra-thin tunneling oxide layer and passivated contacts to reduce electron recombination, allowing for superior performance and durability compared to conventional panels.

Key Features:

• Efficiency: 21-24%, higher than standard and PERC panels.
• Temperature Coefficient: Improved performance in high-temperature environments.
• Durability: Extended lifespan of 25-35 years due to advanced materials and design.

Why Choose TOPCon Panels?
TOPCon panels are ideal for homeowners seeking high-efficiency solutions in limited spaces or regions with harsh weather conditions. Their superior energy yield and thermal performance make them a reliable and long-term investment.

Advantages:

• High efficiency and energy output even in low-light conditions.
• Better performance under high temperatures, reducing energy loss.
• Lower degradation, enhanced lifespan and reliability compared to traditional technologies.

Disadvantages:

• Higher upfront cost compared to Mono PERC Half Cut panels.
• Availability may be limited to a few brands due to newer technology.

b) Structure Type

Rails: Installation on sheet roof, cost effective.

Low-Rise Structures: Close to the roof, cost-effective, but restricts future roof use.

Mid-Rise Structures: Elevated slightly to overcome shadows caused by low-height parapet walls.

High-Rise/Elevated Structures: Allows space underneath for other uses, but costs more.

c) Inverter Type

Inverters are an essential component of any solar setup, converting DC electricity from panels to usable AC power. Costs vary by type:

• String Inverters: Affordable and commonly used.
• Microinverters: Higher efficiency but more expensive.

d) Government Subsidies

The Government of India and Tamil Nadu state offer subsidies to encourage residential solar adoption. These subsidies can significantly reduce upfront costs. A maximum subsidy of Rs 78,000 is provided for on-grid solar panel systems for residential consumers under the PM Surya Ghar Scheme.