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2. Features Advanced features such as Wi-Fi connectivity for monitoring energy usage, compatibility with various battery types, and integrated smart energy management systems can add to the cost. Consumers should consider which features are essential for their energy needs.

3. Market Demand The global shift towards solar energy can create fluctuations in pricing based on demand. Increased demand often leads to higher prices, whereas advancements in technology and production methods can result in lower costs over time.

2. Panel Type There are various types of solar panels available, including flat plate collectors, evacuated tube collectors, and solar mats. Each type has different costs and efficiencies, affecting the overall price of the system.

1. Technology Type Different technologies, such as monocrystalline, polycrystalline, and thin-film solar cells, influence the cost. Monocrystalline panels are typically more efficient and come with a higher price tag, while polycrystalline panels offer a more budget-friendly option with slightly lower efficiency.

With the increased cost of electricity and initiatives geared towards conserving the environment, most homes have solar water heaters. The energy from the sun is leveraged to heat water used in different functions at home such as washing clothes, utensils, bathing, cooking and others. The solar heater utilizes heat from the sun and transfers it to the water tank where the water is heated.