Cost Of Solar Energy Generated Using Pv Panels

Assuming 5 kilowatts kw per household solar panels cost from 10 045 to 13 475 after tax credits are applied.

Cost of solar energy generated using pv panels. However most installers estimate solar costs by the amount of energy needed at 2 53 to 3 15 per watt before any tax credits or incentives. How much energy does a solar panel produce. For the sake of example if you are getting 5 hours of direct sunlight per day in a sunny state like california you can calculate your solar panel output this way. Though solar thermal plants with energy storage can work as stand alone systems combination with solar pv power can deliver further cheaper power.

Solar energy is being utilized globally in many applications such as zero energy and sustainable villages 3 pv irrigation 4 5 solar thermal systems 6 pv power plants for small loads 7 8. The input economical parameters such as energy cost escalation rate inflation rate etc are summarized in table 3. It is found that the global solar radiation varies between a minimum of 1 63 mwh m 2 yr 1 at tabuk and a maximum of 2 56 mwh m 2 yr 1 at bisha while the mean remained as 2 06 mwh m 2 yr 1. The costs of major elements of the pv power plant taken from the literature are given in table 4.

The major chunk of the fund about 70 accounts for renewable energy equipment such as pv panels its transportation and. Cost of solar panels per square foot the cost of solar panels to power your house are 4 to 10 per square foot. Thus the output for each solar panel in your array would. Markets for solar energy are maturing rapidly around the country and solar electricity is now economically competitive with conventional energy sources in several states including california hawaii and minnesota.

The study utilizes retscreen software for energy production and economical assessment. The cost of solar panels is calculated using dollars per watt. The duration of sunshine varied between 7 4 and 9 4 h with an. Below are cost estimates based on home size.

Before tax credits the gross cost of solar panels averages to 16 800. Since the beginning of 2014 the average cost of solar photovoltaic pv panels has dropped nearly 50 2.