What Is the Cost of Solar Energy?

The cost of solar energy has come down tremendously since the early days when it first came out. Back then, a kilowatt hour of electricity was quite the luxury; the price of one was around $15. These days, a kilowatt hour of solar power is no longer beyond the reach of average families, and can be as low as $2 – $5 per kilowatt hour, depending on the market price of electricity at that time and place.

There are several different types of solar panels out there, each with its pros and cons. Knowing which one is best for your needs can be a little tricky, but with the basics of solar power in mind, you can make the right choice for your particular situation.

Types of Solar Panels

In general, solar power falls into two categories: monocrystalline and polycrystalline. Let’s discuss the differences between the two before getting into any detailed costs.

A monocrystalline silicon solar panel uses a single, large crystal of silicon (the same kind used in computer chips) as its basis. This means that its cells are perfectly aligned and it can capture the light in a highly efficient manner. Because of this, it is usually the case that a monocrystalline solar panel gathers up a lot of heat, which must be dealt with through effective cooling. Also, these panels are quite fragile and need to be handled carefully to prevent any damage.

On the other hand, the polycrystalline silicon solar panel uses several smaller crystals of silicon, bound together by metal interconnects. This means that it is less efficient at converting light into electricity, but is less susceptible to damage from falling rocks and other causes of damage. Finally, polycrystalline solar panels are much cheaper to manufacture than a monocrystalline panel, which makes them a good choice for those seeking to reduce their costs.

Which One Is Best For You?

If you are seeking a long-term energy solution and are not overly concerned with cost, you should opt for the monocrystalline silicon solar panel. This is because they are more efficient than polycrystalline solar panels. In addition, they require fewer resources to manufacture and install. This is also an important consideration, as you don’t want to overload your local environment with too many resources being consumed.

On the other hand, if you are seeking a short-term solution and need to minimize costs as much as possible, you should opt for the polycrystalline silicon solar panel. These are the most popular and affordable of all solar panels, with installations around the world, and they provide a good balance between cost and performance.

Costs Of Monocrystalline And Polycrystalline Solar Panels

Let’s now look at the costs of monocrystalline and polycrystalline solar panels, starting with the most expensive one, which is the monocrystalline silicon solar panel. The cost of this panel is usually quoted at around $3 per watt, with prices varying based on different markets and whether you are buying in bulk or individually.

The cost of the polycrystalline silicon solar panel ranges from around $1.50 to $2 per watt, with prices depending on the demand for and the quantity of the product being purchased. For example, when polycrystalline silicon was exceptionally cheap, as it sometimes is during government-mandated energy shortages and the like, it could be purchased for as little as $1.50 per watt. But during other times, such as now, prices can soar to $2 per watt or more, especially if you buy them in large quantities.

Other Important Considerations

Apart from the efficiency and cost issues discussed above, there are several other important things to consider when choosing a solar panel. One of the most important considerations is the level of expertise necessary to install the system effectively and safely. Not all companies that sell solar panels are created equal, and some are definitely more qualified than others. Make sure you work with a company you can trust and that is properly licensed and insured.

Another important consideration is the warranty offered by the company you purchase the solar panel from. Most companies will offer some type of warranty against defects in material and workmanship for at least the first year, and often cover the costs of labor as well. This is a great way to protect yourself against unforeseen problems and allow the company you purchased the solar panel from to fix any issues that might arise. If the solar panel was purchased from a reputable company, you should have no problems and will enjoy the benefits of clean, renewable energy for years to come.

Final Takeaway

On the whole, the cost of solar energy has come down, and with it, the barrier to entry has been lowered. Back in the day, a kilowatt hour of electricity was a luxury – reserved only for the rich. Today, a kilowatt hour of solar power is within the reach of most average families, and can be had for a song. Thanks to the continued innovation and development of newer and better solar technologies, we can look forward to further reductions in cost and to even more cost-effective sources of renewable energy. If we continue to reduce our energy consumption and switch to alternative sources of energy, we will be able to make a real dent in the global warming problem and leave a better world for future generations.

Scroll to Top