Solar panel price in Nigeria varies depending on which type of cell is used and the overall efficiency of the panel. The higher the efficiency, the higher the cost. Solar Panels of the same size may produce variable amounts of electricity, because of the varying efficiency of the panels – this alteration is because of the differences in the functioning age of the solar cells, the quality of the cells, and with the technology, they were produced.
Prices of Solar panels using cells developed recently will be higher as compared to older panels. Early solar cells are not as efficient as modern ones because of the bottleneck caused by technological variation, so you’ll find that the quality of the solar panel increases as the technology involved becomes more advanced.
Quality, age, and technology all play a role in the cost of the solar cell. A cell which uses a considerably older technology will be much cheaper than a cell which has been developed by using the latest technology and designs. Therefore Solar panel price in Nigeria varies according to the type of cell used. Older cells have lower prices and newer cells cost a bit more.
One of the key components of a solar cell is silicone. The overall price depends to a great extent on silicone. If there is a great demand for silicone but supply is low, the price of silicone would rise sharply thus increasing solar panel prices. On the other hand, if it is the other way round, i.e. demand is less and supply is more, the price of solar panels would drastically reduce thus making it possible for quite a few people to invest in solar power.
The above-discussed factors are beyond our control as they are affected by a number of other factors. However, there is a way we can reduce the overall price of solar panels if we wish to install one. This process requires the usage of scrap solar cells. These are those that have broken or been damaged during manufacturing, and manufacturers often sell these for very cheap prices which are way less than the market price for these cells.