Solar Power Costs - What Everybody Really Should Appreciate

There are 2 main factors that govern solar power cost and they are quite simply, the production cost of the solar panels and the installation cost of the solar system in your home.

Solar panels may be green, eco-friendly and help to save our planet but unless they can compete in the energy market place then they will never be widely used. A new coal-burning plant can easily deliver electricity at $2 per watt and so this is the benchmark figure that the solar experts are trying to match.

For the last 20 years scientists have been developing innovative and cheaper designs of solar panels. It is the Silicone based solar photovoltaic panels that have dominated the industry and sell for about $3 a watt, however this is before installation.

For a while there was a real scarcity of silicone and although the demand for solar panels was increasing, the solar panel suppliers were not able to meet that demand. Today even though there is an ample supply of silicone, still the process of refining it to make the semiconductors is a costly process and there are not too many facilities that do this. The handful of factories that are able to produce this refined silicone have a monopoly on the supply meaning that while the demand is high they can keep the price inflated.

The price of refined silicone is one of the main factors in the cost of solar panels. The key thrust of research taking place today is in developing ways to reduce the quantity of silicone that is required to produce a solar panel. There is also research taking place in using alternative cheaper materials that are equally effective. There are certain organic materials which have semiconductor properties which may be used rather than silicone.

The cost of installation will vary quite significantly depending on whether you do it yourself or if you call in a professional installer. To install a solar power system in your home using a professional installer will cost you between $10 - $12 per watt. If you install the solar system yourself then it will probably cost you about $4 per watt.

While the initial cost of installation of a home solar energy system would still be fairly expensive there is no doubt that in the near future, given the astounding developments that are taking place, the cost will come down. In the mean time, governments all over the world are encouraging and subsidizing the use of this technology by offering tax rebates and credits for homeowners who install solar power systems.

So if you install your solar power system by yourself at the cost of about $4 per watt and claim all the tax savings and incentives that are available in your area, then your solar power cost may not be so far from the $2 per watt benchmark of the energy delivered by the coal-burning plant.

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