The cost of a solar inverter can vary widely depending on several factors, including the brand, size, type, and features of the inverter. On average, however, the cost of a solar inverter for a residential solar panel system typically ranges from ₦340,000 to ₦525,500.
Microinverters, which are installed on individual solar panels, tend to be more expensive per unit compared to string inverters, which are connected to multiple solar panels. Additionally, hybrid inverters, which can also manage battery storage systems, may have higher costs due to their added functionality.
It’s essential to consider not only the upfront cost of the inverter but also its quality, efficiency, warranty, and compatibility with the rest of the solar panel system. Investing in a reliable and high-quality inverter can contribute to the overall performance and longevity of the solar energy system.
Keep in mind that installation costs, including labor, permits, and additional equipment, should also be factored into the total cost of installing a solar panel system with an inverter. Additionally, prices may vary based on location, market conditions, and any applicable incentives or rebates that may offset the initial investment.
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