Cost of Solar Panel - find out the truth

Cost of solar panel installation is finally becoming financially feasible, at least for large companies, because of a “third wave” of solar energy technology that is literally rolling off of the production line. The solar panels produced by Nanosolar might not even be called “panels”. Film seems a more apt description for the end result of their process – and this film could revolutionize solar power as we know it. Nanosolar’s solar cells are printed on aluminum foil like newsprint on newspaper and are called by some “thin-film” technology. Nanosolar projects that they will be able to sell their product profitably for 99 cents per watt, which is comparable to the cost of producing energy with coal. Initially, they are looking at industrial-scale applications. One of the first applications of their solar panels will be at a power plant in Germany.

Similar film technology is being developed by other companies and studied at universities, so someday all of us can wrap our homes in it. But until then, what’s a person who wants solar energy to do? Is the cost of solar panels too much to justify their installation? Yes and (sometimes) no.

Currently, the initial cost of solar panels is usually prohibitive for most people to use exclusively to power their home. And most utilities charge a flat rate for the energy you use, so you don’t get the cost benefit of cooking your dinner with solar power during peak energy-use times. But both of these situations are changing. Municipalities are considering charging for power based on time of usage and the initial cost of solar panel installation is going down. You can also plan to use solar power for only part of your energy needs. And, depending on your usage, you might make a bit of change selling your excess energy back to the electric company.

To decide if some solar power is for you, start by figuring out your usage by adding the wattage listed on all electric items you use. (If the power consumption is listed in amps, multiply amps by voltage to get wattage.)Count TVs, air conditioners, the refrigerator(s). Don’t forget things like light bulbs, hairdryers, printers, and gadgets. Now take those numbers and multiply them by the hours in a day you use them. (Refrigerators should be calculated at 24 hours, hairdryers at maybe one. Finally, add them up. This sum is an approximation of your daily wattage use.

You can also use information on your utility bill to figure your daily wattage use. Find the number of kilowatt hours used per month. Divide that number by the number of days in the billing period to get your average daily kilowatt usage. Now since a kilowatt equals 1000 watts, multiply your daily kilowatt usage by 1000 to get your daily watt usage. It will probably be higher than you think. But it will help you accurately determine the cost of solar panel installation for your home.

For those of you who are building in the country, there is what’s called the “half-mile rule”. It is currently cheaper to wholly power your house with solar panels (or other on-site options) than it is to be hooked to the grid if the power company has to install a half-mile of equipment. And that half mile is going to be getting shorter. The cost of coal energy is going up and the cost of solar panels is going down. Soon, solar power will be a viable option for all of us.