The National Renewable Energy Laboratory (NREL) publishes benchmark reports that disaggregate photovoltaic (PV) and energy storage (battery) system installation costs to inform SETO's R&D investment decisions. This year, we introduce a new PV and storage cost modeling.
This phase centers on the ongoing exploration and development of a utility-scale photovoltaic system, operated by the most suitable Independent Power Producer (IPP), as a renewable energy source aimed at strengthening Grenada's energy security and decreasing reliance on imported.
In 2025, a 25 kW solar panel system costs around $60,500 before incentives, based on real installation data from across the country. But your actual price will depend on factors like your roof's complexity, local labor costs, the equipment you choose, and what incentives are.
The cost of fixed mounts typically ranges from $10 to $30 per bracket, making it an affordable choice for most homeowners. These brackets are generally made of durable materials such as aluminum or galvanized steel, ensuring longevity and resistance to environmental conditions.
Solar battery backup systems in Europe typically cost between €5,000 and €15,000, with prices varying significantly based on capacity, brand, and installation requirements.