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Solar Panels

Solar panels are actually one of the most effective means of power production out there. The average American power bill runs anywhere from 9-15 cents per kilowatt-hour of electricity. If you math that out at 8,900 kilowatt-hours annually (also the American average) you will spend anywhere from $800-$1,335 a year in power. Now, when you compare that to the cost of a solar system to cover that amount of power, you may be dismayed.

That’s because a 2 kilowatt system will only produce somewhere from 4-8 kilowatt-hours of energy in a day, depending on where you live. To meet the US average, you need to produce 25 kilowatt hours. So, under average circumstances, you’ll need 3 of the 2 kilowatt solar panels to meet the average home’s power needs. Solar panels cost anywhere from 4-6 dollars a watt to purchase and install, at $5 a watt, a 6 kilowatt system would cost thirty thousand dollars! At current energy prices the system would need to run for thirty years to make up for the upfront cost.

                However, energy prices will not remain static. In fact, by the year 2025 the average US energy cost is projected to be 37 cents per kilowatt hour. If you math that out, you’ll be spending over three thousand dollars a year on power by that time. At that point, a system will only need to run for 8 years to recoup the cost. Most solar panels are built to run 10-15 years maintenance free. This means that at current pricing, solar panels will pay for themselves before you need to replace them. And the price is only going down as higher efficiency rates and lower cost manufacturing options become available.                

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