The March 2025 Solar Choice Price Index (SCPI) indicates a continuation of a four year trend begun in December 2020, where the average national residential solar panel price per watt remains below the $1 (USD 0.63) mark, except in Tasmania, and sits at $0.90 cents per watt.
Western Australia (WA) pricing is the lowest of all state and territory markets at $0.77, a figure not seen since September 2023, and which follows a sharp decline from a $0.96 peak recorded in January 2025.
Solar Choice Chief Executive Officer Jeff Sykes told pv magazine solar panel installation costs have remained close to all-time lows despite the drop in the small-scale technology certificate (STC) rebate at the start of the year.
“This is mainly driven by very low costs for solar panels, however solar panel prices are expected to rise in the next three to six months,” Sykes said.
Elsewhere, South Australia’s (SA) March price per watt is $0.82, New South Wales (NSW) $0.83, the Australian Capital Territory (ACT) $0.87, Queensland $0.92, Victoria $0.95, and Tasmania, $1.14.
Solar battery Costs
In February 2025, the average battery installation cost per kWh capacity is found by Solar Choice’s battery price index to be $1,120, the cost per kWh throughput (total cycle life) $0.19 and cost per kWh throughput (1 cycle per day) $0.29.
In the table below, comparing the prices of batteries with the capacity range of 1-5 kWh and 6-10 kWh, the installed cost per kWh capacity respectively is $1,350 and $1,120. Throughput costs for total cycle life is $0.22 and $0.20 respectively, or at 1 cycle per day, $0.34 (1-5 kWh) and $0.29 (6-10 kWh).
“Despite significant growth in battery installation volumes, the price of batteries has remained steady around $1,000 per kWh installed,” Sykes said.
“The announcement of state-based rebates in NSW and WA is expected to drive further volume into the market and some newer battery brands are pushing pricing lower than incumbent operators.”
Electric vehicle (EV) chargers
Solar Choice Head of EV Charging Daniel Carson told pv magazine the EV charger market pricing has been volatile in recent months.
“That’s the total installed cost of a home EV charger and it’s the result of a number of new brands entering the market,” Carson said.
“The market is expected to increase this year in line with the growth in adoption of electric vehicles.”
Nationally in March 2025, the average cost including installation and goods and services tax (GST) is $2,179, with WA being the most expensive at $2,576 and the ACT, the most economical at $1,883.
These costs reflect EV chargers for residential installations only, compared to public chargers, commercial car charging and EV charging in strata apartments.
Heat pumps
In March 2025, the price of a heat pump hot water systems system including STCs and installation were found to be on average nationally, $4,261.
In NSW, the average costs were above the national average at $4,629, with state rebates for upgrades from gas shaving off almost $300 to $4,371 or rebates for upgrades from electricity, $4,150.
Costs are significantly lower in Victoria, with an average of $3,781 or $2,242 (after state rebate to upgrade from gas), or $1,970 (after state rebate to upgrade from electricity).
Solar Choice Head of Marketing James Shand told pv magazine that summer is typically the low season for hot water system upgrades.
“Prices have risen in the early months of the year due to decreases in the federal STC rebate and the energy savings certificates (ESC) price in New South Wales,” Shand said.
“Volumes are expected to start to increase again in April as the colder temperatures start to return.”
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