How Much Are Solar Panels?

Since solar energy is what we are banking on for our future as a viable and alternate energy solution, we wonder how much are solar panels? It is quite expensive at first when you are looking to install it at home or office. The technology is new and lots of costly materials and specialized engineering goes into manufacturing the photovoltaic or PV cells which automatically increases the cost of these cells. With the advancement of this technology and increased awareness of the society and its people, the demand for this PV cells is on the rise. Therefore, you can always expect these cells to be expensive. Moreover, people are also looking to find alternate power solutions that will reduce their electricity bills and save them enough to take care of other household chores.

Solar panels are expensive

Although, this power source is like no other, still it hasn’t been able to make much headway in terms of getting into the mainstream segment. There can be lots of reasons why it hasn’t been in use by majority of the people. The main reason being the technology that is behind the creation of the PV cells has not been optimized to ensure that it replaces the conventional power sources that are in use today. This also means that there are only a handful of companies that are specialized in the manufacturing of these PV cells. Without stiff market competition in this segment, the price of the PV cells will remain high in the market. So, ‘how much are solar panels’ is really a question that involves a lot of speculation from our perspective. These underlying factors play an important role in making the price of these systems extremely high.

Prices do vary as per requirements

So, if we are looking for the prices of the solar panels then we need to check out the prices that are offered by various manufacturers. For instance, if we are looking for 4.5 ampere solar unit then it would cost you around 300 dollars roughly. In addition to the unit, there are other components that you would require to make the system work and these include meters, brackets, regulators and wiring.The complete package would add another hundred to two hundred dollars. This means that a single panel of solar system would cost you around four hundred to five hundred dollars. The high price of these systems is one of the major factors why solar power systems are not that popular among people and its implementation and acceptance rate is significantly low.

So, how much are solar panels? The cost of the solar panels and the system depends entirely on the type of solar panel you are looking for. The price will vary according to your requirements and preferences i.e. whether you are looking for commercial purpose or for household purpose. If you are looking to power your entire house with solar panels then it can drain a significant amount of your savings as it can cost you anywhere from $30000 to $50000. Hopefully, the price of these systems and panels will come down in the coming years with increased awareness and more manufacturers.

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