Residential solar PV price index – April 2016

Average solar PV system prices dropped slightly between March and April of 2016, following a downward trend that started in February. Based on data from Solar Choice’s installer network database, the average price of per watt of a fully installed residential solar system in Australia is about $1.63 (including GST, after STCs).

Average solar PV system prices for April 2016

Prices in the table below include both the up-front incentive available for small-scale systems through the Renewable Energy Target and GST – they represent the total retail cost of the system to the customer.

Solar system prices for April: $/W medians, highs & lows

Historic solar PV system prices (since August 2012)

All $/W solar system prices (Historic)

The chart below provides an at-a-glance look at solar PV system pricing trends since August 2012. Data points are the average of average $/W for each system size (1.5kW-5kW until Nov 2013, then also including 10kW from Dec 2013).

A note about the ‘Solar Choice discount’

From August 2012 until November 2015, calculations for our monthly Residential Solar Price Index articles excluded the discount available through Solar Choice network installers exclusively to Solar Choice customers. From last month we have excluded this figure, which works out to approximately 14c/W in most instances. The chart below retroactively applies this amount to every month since the Price Index’s inception.

About this data

Tables and charts included in this article were compiled using data from Solar Choice’s installer network database, which contains regularly-updated pricing and product details from over 100 solar installation companies across Australia. Prices do not ordinarily incorporate meter installation fees or additional costs for difficult installations. ‘Premium’ installer offerings are excluded from calculations.

© 2016 Solar Choice Pty Ltd

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Jeff Sykes

CEO at Solar Choice

Jeff has consulted on over 20MW of commercial solar projects, ranging from SMEs to ASX top 100 companies. Jeff has also provided independent advice to 100s of residential solar, battery and EV charging customers across every state in Australia. He holds an MBA from the Australian Graduate School of Management and is an expert in business strategy and financial analysis.

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