Solar power systems are expensive, especially the commercially produced variety. Cost of manufacturing is high due to technicalities of the product and manufacturing procedures/processes.
Another important reason that can’t be ignored contributing to high price of these systems is the limited number of manufacturers. It means there is no serious competition to prompt the manufacturers to be competitive in their pieces and design of the equipment.
But, many governments, for obvious reasons, started offering compensation to the manufacturers of technically complex and essential items required for making of these systems. Consequently the prices started coming down.
An easy way to save money for having a solar panel is to make it on your own as the needed components are easily available at affordable prices. That way you cab easily save forty to sixty percent of cost, as compared to prevailant commercial prices.
Making available solar panel technology at affordable prices has continued to be a challenge for the technocrats, the governments and the manufacturers. The prices have been coming down over the years and can be expected to lower further. As a matter of fact taking into consideration all the factors, the price of a solar panel shouldn’t go beyond $500. There could be slight variations, but the indicted price is inclusive of other electronic and electrical accessories necessarily required for making of such panels. Then, you have to pay installation charges, unless you feel confident of doing it yourself. On the other hand you won’t be required to spend more than $200-300 for making one panel if you decide to make it on your own.