Solar inverter prices have always been the focal point for those inside the PV industry and consumers.
Do you know what factors influence their prices the most? In fact, a number of factors influence their price fluctuations, while only a few turn into key points that are important to us all. The following are the found 10 key factors influencing their prices.
Let's take a look at them.
1. Efficiency decides what price one offers to one product.
Like any other machinery product, a solar inverter's efficiency decides how much favor a buyer has for it. This product's efficiency shows itself by the amount of alternating current it can produce from a certain amount of direct current generated by solar panels.
The average solar inverters' efficiency can be around 95%. Those excellent manufacturers that produce excellent products with higher efficiency such as 96%, 98% and 98.5% will ask for more payment. The higher the efficiency, the happier the buyer will become.
Although the buyer has to pay more, he probably is happy to pay for it, because efficient inverters mean more electricity to be used by his family.
No. 2. Inverter types make inverter prices different largely.
Nearly every existing product has at least a bunch of types, which must be given different prices.
For a solar inverter, there is no exception either. These inverters can be divided into at least three groups: grid-tie, off-grid and hybrid inverters. Their prices vary from one to another. Besides this, among these products there are still other divisions.
For example, if you plan to build a home solar power system and decide to buy an inverter, you have at least two choices. One, you can choose an average one; two, you can choose a series of unusual ones. The average one is string inverter, which functions to convert all the current generated by your solar panels in one time.
The unusual ones are solar micro inverters. Each of them is only connected to one solar panel. So, the average and the unusual have different prices. One average inverter is about 1,000 dollars for example, while one micro inverter is only more than 100 dollars.
However, people now prefer to use the average inverter because it is cheaper. You know, if a series of micro inverters are used, the total expense will become high.
No. 3. High quality makes you pay more.
Everyone loves high quality products because high quality means reliability.
The side effect of it is they are usually more expensive than common ones. For a solar inverter, high quality means a hard shell which cannot be cracked easily, a water proof function and lower rate of running into trouble. If buying this inverter, you will feel satisfied but you need to pay more as well.
For example, if you buy one solar inverter from Omnik New Energy, probably you have to pay more, but you will benefit from its high quality advantages.
No.4. Different manufacturers set different prices.
Although the world is filled with all kinds of solar inverter manufacturers, they are different in setting product prices for their consumers.
For example, the prices set by Smart Power Systems must be different from those set by Advanced Energy. So, choose your favorite one which offers you the best product.
No. 5. Global competition makes their prices more favorable for consumers.
Solar panels have become even much cheaper than ever before, and so more and more people across the United States, the UK, China and India are turning to solar power.
However, I think many have ignored another key reason influencing the public's decision making. That's the fierce competition in the solar inverter industry. You don't have to ask me why I have this idea. I can tell you more business people around the world are flocking into the industry and making inverters worldwide.
In the countries mentioned above, the competition must be more competitive. In this case these manufacturers cannot set their prices too high, probably more favorable for consumers.
6. Services provided by sellers cost your money.
I know some may argue many sellers guarantee their services are free. I agree. However, don't you think their products grab more of your money? This sounds bloody but the truth is you need to decide whether you need their services or not.
For example, the seller provides warranty and free delivering, then you need them. Although their product is expensive, they are worth your money. If not, just turn to those who offer you the services you need and then buy.
No. 7. Different origins mean different prices.
Solar inverters are now produced all over the world.
Their prices are quite different from continent to continent, and from country to country. Solar inverters manufactured in the US and the UK must be more expensive than those produced in China. And so many Chinese producers seek to sell their products in the two countries.
For consumers, many of them are buying solar products from online businesses which are originated in China. Today, a few countries like the US are using tariffs to restrict imported solar products. That's another story.
No. 8. Big brands always require higher pay.
No wonder, consumers love big brands because of their higher quality and reliability.
However, they always require more payment than you think possible because they have numerous ads that need payment. In contrast, small brands have less investment, and so their products are not that reliable. But they can be one of your choices if you have no enough budget.
Another idea is big brands cannot proclaim that they are absolutely highly qualified. Thus, small businesses are not absolutely terrible. Due to this concern, my idea is you buy solar inverters from medium-sized companies.
No. 9. Market fluctuation influences their prices a lot.
When we discuss these products, we have to discuss the markets they are suitable for.
Solar inverters' major markets are scattered in Europe, America, Asia, Oceania and Africa. Different markets have different levels of demands. If these demands are high, these products will be sold high, and vice verse. So, their prices change as the market demands change.
The typical example is Europe, where today's market situation is pale. So, their prices have fallen dramatically compared with the past. Because of this, lots of European suppliers are now moving to other parts of the world.
No. 10. Global trend makes their prices rise and fall.
Obviously solar energy has become the trend of the world, and so solar inverters have been highlighted time after time.
Therefore, their prices have become buzzwords. Although their prices are low, their total revenues are extremely high, compared with the past. In the past decades, biofuels have been the trend, and their prices rocketed and fluctuated. Their total revenues were extremely high.
Today, their prices fall dramatically because their popularity has gone. So, when the trend falls, these inverter prices will fall and gradually disappear from the world in the end. The truth is currently their trend is still very strong.