AXITEC, Jinko Solar, LONGi Solar, REC Group, and QCELLS are our top picks for the best cheap solar panels based on their price per watt ($/W) and performance.
What are the best low-cost solar panels?
Canadian Solar has the best selection of cheap solar panels of any manufacturer on this list. Here's a quick look at some of its more attractive low-cost panels. TOPHiKu6: The TOPHiKu6 panels have the second-highest efficiency rating of Canadian Solar's panel options. These are all black, but they do have visible grid lines.
Bloomberg New Energy Finance's Jenny Chase suggests that the true lowest record price was the Portugal project: IMO the record low bid in a solar auction for price to be paid is still in Portugal, with a project at 14.76 euros per MWh for 15 years. This secures the valuable grid connection, and the developer hopes to hit paydirt in years 16-??
At just $2.36 per watt, AXITEC offers the cheapest solar panels per watt on our list. The German manufacturer offers average warranties and isn't a top performer in terms of performance or resiliency, but AXITEC panels can be a great way to go solar on a budget.
Panels with higher efficiency ratings are usually more expensive. Warranty: One area where low-cost panels often fall short compared to premium options is the warranty. The industry standard is 25 years' worth of protection for both the panels themselves and their power output. I recommend looking for panels with 25-year warranties.
The projects in Brazil and Portugal only sell some of their electricity into the power purchase agreement, while the rest is being sold into the open market. All of these price are remarkable, but India is still the cheapest place to build solar power. India offers no incentives, no green credit, and no special relationships, just pure price.
Which energy sources are cheapest?
Chart courtesy of Lazard. As you can see in the chart above, which visualizes version 17 of Lazard's cost of energy comparison across the electricity sector's main power sources, utility-scale solar power and onshore wind power are by far the cheapest sources for new electricity generation.