There are two main factors which govern solar power cost and these are quite simply, the assembly cost of the solar power panels and the installment cost of the solar system in the home.
Solar power panels may be efficient, eco-friendly and help save the planet but until they can be competitive in the energy marketplace they will never be extensively used. A new coal-burning plant can easily deliver electrical power at $2 per watt and so this is the benchmark number that the solar scientists want to match.
For the past twenty years scientists have been developing ingenious and cheaper designs of solar power panels. It is the Silicone based solar photovoltaic panels which have dominated the industry and sell for approximately $3 a watt, but this is before installation.
For some time there was an actual shortage of silicone and although the interest in solar panels was growing, the solar panel suppliers were not able to fulfill that demand. Today although there is a plentiful supply of silicone, nevertheless the operation of refining it to produce the semiconductors is a costly process and there are not many companies that do this. The handful of factories that can produce this refined silicone have a monopoly on the supplies which means that even though the demand is high they still keep the price inflated.
The actual price of refined silicone is one of the key elements in the cost of solar panels. The key thrust of research going on today is in developing ways to lower the amount of silicone that is needed to produce a solar panel. There is also investigation taking place with alternative less expensive materials which are equally effective. There are specific organic materials which have semiconductor properties which can be used instead of silicone.
The expense of installation will change quite considerably depending on whether you do it by yourself or if you call in an experienced installer. To install a solar power system in your own home using a professional installer can cost you between $10 - $12 per watt. If you install the system by yourself then it should most likely cost you about $4 per watt.
Whilst the initial expense of installation of a home solar energy system would still be relatively expensive there is no doubt that soon, given the amazing advancements that are happening, the price should come down. In the mean time, government authorities all over the world are encouraging and subsidizing the use of this particular technology by offering tax savings and incentives for home owners who install solar energy systems.
Therefore if you set up your solar energy system by yourself at the cost of approximately $4 per watt and claim all of the tax rebates and credits that are offered in the area, then your solar power cost may not be so far from the $2 per watt standard of the electricity delivered by the coal-burning plant.
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