Home Solar Panel Installation Solar Is Dropping

Today it s around 0 13 per watt or about 600 times less.

Home solar panel installation solar is dropping.

Though the basic underlying technology is the same a variety of factors have contributed to a hundredfold decline in costs. The price of solar has dropped by an incredible amount. Now researchers have identified the relative importance of these different factors. How much will it cost to install solar panels at my home.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. All of seto s funding programs are working toward improving the affordability of solar and making it easier for consumers to choose solar.

Photos show a solar installation from 1988 left and a present day version. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power. Not only are the prices of panels dropping so are the costs associated with installation such as permitting and inspection also known as soft costs. For many the cost alone makes the notion of completely powering homes through solar panels difficult.