When taking into consideration the use of solar energy as your source of electricity, you need to think about a few things such as the material costs, the cost of installation, cost of maintenance etc. The costs of solar panels differs from one household to the other such that a big home requires more solar panels than a small home due to efficiency and this may also mean that bigger homes require bigger panels in terms of size. The manufacturer, the material it is made of, its durability, where you live and whether it is homemade or pre-made (manufactured), also determines the cost.
The cost of photovoltaic solar panels also depends on your current consumption of electricity, and whether it is your main source of power or is a backup. Thus, when buying a solar panel you ought to compare the prices, quality, performance-in terms of output – and durability.
What is the cost of solar panels ?
Most people do not know that you can measure the cost of a solar panel as well as compare this cost to the value that you are getting from it. The cost of photovoltaic solar panels is generally stated in dollars per watt i.e. $/W – this could be in direct current watts or alternating current watts. It is important to note that when you are purchasing a solar panel, you are actually paying its capacity to generate electricity now and in the future.
As at 2011, the cost of solar panels was approximately $2-$3 US dollars for each watt of installed power, with nearly 443 panels priced at less than $3 per watt. And with the increase in research for less expensive ways of making solar panels these prices are coming down. A home in the US requires an average of about 20-24 Kw/hr of electricity every day with heating and air conditioning taking a significant share of the electricity. A solar panel capable of producing such an amount of electricity each day should have close to 4000 watts and the price for such a solar panel ranges between $16,000-$20,000 US dollars depending on the make or type.
Majority of the people do not know that it is very easy to build your own a solar panel. By the use of a few ordinary tools and with the right technical knowledge as well as a little effort on your side you can come up with a solar panel that will cost you as little as $200. There are several on-line sites that give you a guideline on how to buy the solar cells that you will require and the tools and materials as well as the best places to buy and some of them have videos that show you a step-by-step process of doing this.
There are many local governments that give tax credits, incentive and even rebates to people purchasing solar panels and this reduces the cost you incur in purchasing a solar panel. These incentives at times save you half the cost of the solar panel hence you might find it worthwhile to check your state government’s website to see if they offer such incentives. In order to determine the cost of the solar panel you require for your house the principle thing to consider is the amount of electricity your house consumes. And, you get to find out this thing from your monthly electricity bills. From the bill look at the number of kilowatts hours per month then multiply this by 1000 to get the monthly value and then divide by 30 to get the watts per day. From there you need to divide that by the number of hours, you receive sunlight in your area and that way you will know the amount of electricity the solar panel is required to generate in order to power your home.
