Solar panel efficiency is the amount of sunlight (solar irradiance) that falls on the surface of a solar panel and is converted into electricity. Due to the many advances in photovoltaic technology over the last decade, the average panel conversion efficiency has increased from 15% to over 23%.
Standard solar panel efficiency levels are 15-20%, but they can reach 42% in some cases. Commercial rooftop solar panels are not all created from the same material and therefore have different efficiency ratings. Monocrystalline solar panels are made from one silicon piece and are known for being the most efficient solar panel type on the market.
Reduced costs, energy efficiency, and energy independence are among the main benefits of solar panels for businesses. On average, commercial solar panels can break even in 4 or 5 years due to their high solar absorption capacities. The best solar panel companies for larger arrays include LG, Sharp, SunPower, Panasonic, and Yingli Solar.
Commercial solar panel installation can bring many benefits: Over the 25-year lifetime of solar panels, savings can equate to thousands of pounds. A 20kW system can potentially save businesses over £3,000 annually on their electricity bills. Solar panels allow for energy independence and some level of insulation from fluctuating electricity prices.
They can be installed to power both industrial processes and offices and can lead to substantial cost savings. Commercial solar panels are typically more powerful (400W-600W) than the solar panels used for domestic purposes (250W-400W), averaging 195cm x 99cm in size, compared to 167cm x 101cm for residential panels.
A way to estimate the installation costs of commercial solar panels is to calculate 0.2p per Watt fitted. That would mean it can cost approximately £2,000 (excl. VAT) to install a 10kW system. For large commercial systems, it may take multiple workers to install them, and the more people required, the higher the costs.