Today, technology has improved to a higher degree than before; as a result of this, the average cost of solar panels and installation has dropped a great deal from what you might think.
The cost of solar panels depends on a lot of factors, for instance, number as well as the quality of the solar cells that are used, and the technology by which they are made. The solar panels of the modern day are much more efficient than the earlier solar cells.
These solar panels have a useful lifetime of approximately 20 to 25 years, however, the price of these panels as well as wattage output reduces gradually with time. If a panel is stored while the other one is used for sometime, then the former is more effective than the latter.
The average cost of solar panels is approximately $4.30 per watt. If you buy a 50-watt solar panel, then the cost of solar panels and installation will be around $215. Two identical solar cells do not mean that they are of same price. Before you go to buy the solar panels for your home, you should keep in mind the cost of installing solar panels.
At the beginning, the investment in the equipment of solar-energy can be very costly. The reason behind this is that the semi conductor materials that are used in making the solar panels are very expensive. Just a few years ago, the cost of solar panels for home was $3-$4/ watt at an average. But since the productions of solar panels have increased drastically, the price of these have decreased to some extent.
In spite of the initial expenses, these solar systems have the power of diminishing the expenses of energy considerably with time as well as they give a value to your residence. Besides this, you may have a chance of getting financial support from the government in the form of an incentive so that you can purchase your solar panels.
If you buy a little, single-PV-panel solar system, it will cost you roughly $900 for installation or in other words, $12 per watt. If you want to produce the entire amount of electricity that will fulfill the energy needs of your home, you should buy a 5-kilowatt system and it can be priced between $30,000 and $40,000 installed. But before installing a solar panel in your house, it is essential to make your home extremely energy efficient.