You must have wondered at some point, just how much do solar panels cost, really? Of course, the obvious answer is that they are really very expensive, initially. A lot of specialized engineering and materials go into the manufacturing of each photovoltaic or PV cells, resulting in high production outlays and thus, high prices. This has always been true, and with recent interest in alternative sources of energy, higher demand for this type of technology has also made the price of materials higher. This has also increased the need to know just how much can solar panels set back one’s home improvement budget.
However, sun-powered electricity has not yet been accepted broadly by the mainstream, meaning that the technologies involved in creation of panels have not yet been optimized, and are not being optimized as fast as they could be. This also means that there are only a small number of companies who are active in the market, and without much competition, prices will tend to remain high. All of these reasons and factors contribute to making the prices of commercially available power systems, especially those with high power outputs, quite exorbitant.
How much does each solar panel cost? Roughly, a single one capable of producing 4.5 amperes of current would sell for three hundred dollars, at sale price. Apart from the panel, a complete harnessing setup would also include regulators, brackets, meters, and wiring, which would add a couple of hundred dollars to the total bill. Thus, a one-panel system can be estimated to cost at least four to five hundred dollars outright. That is undeniably a big amount of money, and this is exactly the major reason preventing greater acceptance and implementation of power.
However, in recent months, new innovations by DIY enthusiasts have managed to bring down the capital outlay for do-it-yourself solar panels. For less than $200, you can easily create a standalone power system using photovoltaic cells.
So, how much do solar panels cost? It depends on whether you are going the commercial or do-it-yourself route. Well, in the case of commercial setups, they cost in the hundreds and thousands of dollars for relatively small setups. If you intend to power your entire household using a commercial energy system, it can easily set you back by $30000 to $50000 as a ballpark figure. But continued interest and research in the field is sure to make it more affordable in the near future. As for the homemade version, you probably need to spend at most $1000 to $2000 and get your entire house powered by the sun.