With New Technology Solar Panels Cost Would Go Down

Solar panels cost depends on their shape and size. But their main objective is to use the rays of the sun and convert it to electricity.

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Solar panels are made of photovoltaic cells which are thin silver films that are self-generating and stick to a semi conductor layer.

The photovoltaic effect refers to photons of light knocking electrons into a higher state of energy to create electricity.

Using the rays of the sun, they can heat your home, water and also power up electricity.  Solar panels are nothing new to us as they are in use in a wide array of products that are found all over the world.

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Did you knew that photovoltaic production has been doubling every 2 years, increasing by an average of 48 % each year since 2002, making it the world’s fastest-growing energy technology?.

The solar panels cost has been dropping down due to the diversity of applications that we can used them, from calculators to satellites and space shuttles, the property of solar panel to redirect the ray of the sun for electricity is remarkable. The idea of solar energy first kicked off a century ago when a machine was run on solar energy as an experiment. The person who hit on this idea just wanted to get steam from sunlight to run his equipment.

Taking cue form his bright idea, scientists got to work and the results has been amazing over the decades. The need for solar panels has never been as acute as other energy sources are drying up and traditional energy expenses are also spiraling up. Sun has gradually become a source for powering home appliances and machinery for small business owners. It has not only made it more convenient to the users, but also saved lots of money in energy costs. Depending on the size, shape and the amount of watt power produced by solar panels, their costs are determined.

Solar panels cost compared to other energy sources

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On an average the solar panels cost hovers around $5 to $15 per watt. It also depends on what brand is used. Solar panels cost can range from $70 to a $1000. Each panel that is installed on the your roof or open sunny space is capable of generating nearly 200 watts of electricity when the sun shines fully. Panels are attached in a pattern and a set of five panels are capable of generating about 1000 watts of power. For an average home, 1000 watts makes about 10 to 15% of the total power requirement yearly.

Although in solar energy, photovoltaics can sometimes suffer from silicon shortages and there could be solar panels cost and their installation, there is a growing view that these problems would be taken care of soon. That would eventually lead to an abundance of solar energy at far lower costs. Researches conducted by the Prometheus Institute revealed that costs would fall from $3.66 a watt to $2.14 a watt by 2010. This is for panels that are silicon based and for PV, the costs would drop from $2.96 to $1.81 for a watt.

This is good news for people planning to go for solar energy to power their homes or run their machinery. Compared to coal as an energy resource, it would be far more competitive to go in for solar energy as Solar Panels Cost would drop in the long run.

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