Costs and prices for photovoltaics in 2024

Costs are the decisive factor when purchasing a PV system. We have therefore evaluated over 100 PV offers for you and in this article we give you a comprehensive overview of all costs and prices for photovoltaics in 2024 (as of September 2024).

Table of contents

First things first

• A photovoltaic system in Germany will cost between €6,000 and €12,000 in 2024.
• This corresponds to a price of 1,000 to 1,400 € per kWp.
• The price for an additional power storage unit is around €550 per kWh.
• Prices for completed solar systems fell by 131% in 2024 compared to the previous year.

How much does a photovoltaic system cost in 2024?

A photovoltaic system in Germany will cost between €6,000 and €12,000 in 2024. This corresponds to an average price of €1,200 per kWp of installed capacity. The costs include the acquisition costs as well as the installation and assembly costs.

If an additional power storage unit is installed, the PV system costs between €9,500 and €17,000. The costs for the storage unit are between €3,000 and €5,000, depending on the output.

All prices and information are as of September 2024.

How much does photovoltaics cost per m²?

A photovoltaic system costs between €230 and €270 per square meter. For a PV system on a small roof with 28 square meters of module area, this is around €268 per m², and for 45 square meters it is €233 per square meter. The larger the area, the lower the costs per m².

How much does a photovoltaic system cost per kWp? 

A photovoltaic system costs €1,000 to €1,400 per kWp (kilowatt peak). The costs decrease with the size of the PV system, which is why a smaller photovoltaic system has a higher price per kWp than a larger one. A 5 kWp photovoltaic system costs around €1,380 per kWp, while a 10 kWp solar system is €1,030 per kWp.

How much does a PV system with storage cost? 

A PV system with electricity storage costs €9,000 to €17,000 for a single-family home. The average price of an electricity storage system is €550 per kWh of storage capacity. A 10 kWp PV system with a suitable 10 kWh PV storage system therefore costs around €15,000.

The price per kWh of power decreases as the size of the photovoltaic system with storage increases. This means that smaller storage systems are comparatively more expensive than larger models. For example, a 6 kWh storage system costs €3,000, while a 12 kWh storage system that is twice as large costs €4,800.

How much do the individual components of a PV system cost? 

How much do PV modules cost?

In 2024, PV modules will cost €90 to €150 per solar module. This results in a price of €245 to €330 per kilowatt peak (kWp). For a 10 kWp system, module costs are therefore €3,000.

The price development of solar modules has been pointing downwards for years, as shown in the graph below (as of September 2024).  

Please also note that the cost of PV modules decreases as the PV output increases. It may therefore be worthwhile to cover the entire roof of your single-family home with solar modules

How much does an inverter cost?

In 2024, an inverter will cost between €700 and €1,300 for a PV system on a single-family home. The price per kW of power is on average €130. The inverter therefore accounts for 10 to 15% of the total cost of a photovoltaic system.

The exact Prices for inverters vary depending on the system output, with the cost per kWh decreasing with increasing output: A single-family home with a 6 kWp system requires an inverter with 5 to 6 kWh. This costs €145 per kWp. A 10 kWp system requires an inverter with 8 to 10 kWp, which costs €125 per kWp.

How much does a power storage system cost?

In September 2024, a power storage unit will cost around €550 per installed kWh of storage capacity. For a power storage unit with a storage capacity of 10 kWh, the price is €4,500 to €5,500. Smaller storage units are relatively more expensive, as the price per kWh decreases with increasing performance.

The actual costs depend on the storage capacity and the manufacturer. The costs for PV storage also decrease per kWp with increasing storage capacity.

How much does a substructure cost?

The costs for the substructure of a PV system vary depending on the size and type of roof. An average substructure for a roof-mounted photovoltaic system for a single-family home costs between €500 and €1,500. For a flat roof, mounting the modules costs around €200 per kWp. This applies to substructures with anchoring or weights.

How much does a performance optimizer cost?

Power optimizers for photovoltaic modules cost around €100 to €200 per kWp including installation. For a 10 kWp system, this would be an additional cost of around €1,500. 

How much does an energy manager cost? 

An energy manager for a PV system on a single-family home costs a good €1,000. Some providers also charge monthly costs for storing data or using a cloud. These vary depending on the scope and performance. 

If you choose a photovoltaic system with a power storage unit, an energy manager is often integrated into the power storage unit or the inverter system. This saves you the additional costs of an external device.

How much does it cost to install a photovoltaic system? 

The installation and assembly of a PV system costs €2,500 to €3,500. The price depends on the size of the system, the condition of the roof, the local conditions and the company commissioned. If an in-roof photovoltaic system is chosen instead of the classic roof-mounted installation, the costs are €4,000 to €7,000.

How high are the operating costs of photovoltaics? 

The operating costs of a photovoltaic system are between €350 and €400 per year. For a photovoltaic system for a single-family home, this corresponds to around 21% of the investment costs. The operating costs consist of the costs for maintenance and cleaning, PV insurance, the electricity meter and reserves for possible repairs.

Is a photovoltaic system worthwhile in 2024?

Having your own photovoltaic system will still be worthwhile in 2024. In this way, you can cover your own consumption up to 30% and thus save 30 to 70% in electricity costs per year.

The lower part shows how worthwhile a PV system really is. ExampleWe make the following assumptions:

• Annual consumption: 4,500 kWh
• Photovoltaic power: 5 kWp 
• Term: 20 years 
• Electricity price from the grid: 28 cents per kWh (as of September 2024 for new customers)
• Annual electricity price increase: 5%
• Feed-in tariff: 8.03 cents per kWh (as of September 2024)

If you opt for a photovoltaic system with power storage, the purchase is even more worthwhile, as you can increase your own consumption to up to 70%:

With a power storage system, the investment costs are higher, but you will save over €10,000 more over the years.

How has the price of photovoltaics developed in recent years? 

The price trend of photovoltaics has been declining for years. In 2006, a PV system cost a good €6,000 per kWp. By 2012, the price had fallen to €2,300 per kWp, while today (September 2024) it is around €1,200.

Price development of photovoltaics in €/kWp (September 2024)

The reason for the falling price trend is due to technological advances, mass production and a wide range of solar products.

Cost comparison of a PV system in 2022 and 2024

*Period of observation: 20 years
**Annual electricity price increase: 6%
***Electricity consumption: 7,000 kWh

Which factors influence the price of photovoltaics? 

module type and quality: Costs vary depending on the manufacturer, type and technologies used. 

system size: Larger systems cost more, but the costs per kWp are lower. This is due to discounts for larger quantities and reduced installation costs.

Technological developments: Advances in photovoltaic technology are driving down prices, for example through more efficient modules or better storage solutions, but also better production processes.

demand and mass production: The general demand for photovoltaics can cause price fluctuations on the market. In general, high demand leads to falling prices because more modules and power storage units can be mass-produced. 

installation effort: The complexity of the installation at the site and any structural adjustments affect the total costs.

funding programs: Availability of government grants and financial incentives can have a significant impact on the final costs.

Regional differences: Location-specific factors such as solar radiation and climatic conditions influence profitability and thus also costs and payback periods.

additional components: The integration of storage, power optimizers or energy managers increases costs.

What financing and subsidies are available for photovoltaics in 2024?

The federal government will continue to support photovoltaic systems in 2024 as a result of renovation measures with BAFA funding. Financing in the form of a low-interest loan is available through the KfW Bank as part of the Renewable Energy Loan 270. At the state level, there are currently subsidies in Berlin and Baden-Württemberg. In addition, many municipalities offer loans and grants.