After years of reading about "The Bright Promise of Solar Power" (boy, did the media work that title to death), I have come to the following conclusions: Our government will never have a coherent energy policy, solar power is still terribly inefficient, and the folks who buy solar power systems care more about the environment than money.
For decades, homeowners have been tantalized by the thought of free heat, hot water, and electricity powered by the sun. And for just as long, manufactures have been trying to design a cost effective system within the means of average homeowners.
The limited efficiency of silicon cells used in solar panels is THE reason why the cost of solar won't be coming down anytime soon. The majority of today's silicon cell solar panels are only 17% efficient. This means they convert only 17% of the sun's energy into useable power. Can you imagine buying a gas or oil furnace that converts only 17% of the fuel into heat?
Here's another way to look at it. A typical 200 watt solar panel, selling for $1,100, will provide 100% of an average household's power needs for a total of 9 days per year. This works out to energy savings of $28 per year for every $1,100 invested.
A typical 3,000 kilowatt residential solar system designed to provide 50% of a home's annual energy would require (15) 200 watt panels at a cost of $16,500 - not including $7,000 more for electrical components and installation. Even after rebates, tax credits, and other financial incentives, the out of pocket expense for a 3kW solar system would still be around $10,000.
Obviously, anybody willing to spend this kind of money just to save $420 a year on their electric bill is more concerned with the environment than their pocket book.
Fortunately, there are numerous other alternative energy options that are just as eco-friendly, but far less expensive and many times more efficient.
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