The True Cost Of Solar Energy

If you ask any average person whether he or she supports the use of renewable energy, chances are that the answer would be yes. But why is it that not a lot of people have solar panels installed on their roofs? Well, the answer is that they’re costly which is ironic since solar power pave way for the use of free energy. When people say that solar panels are expensive, they mean the initial acquisition and the installation of these panels. But in the long run, what really is the cost of solar panels or the true cost of solar energy in general?

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Factors Affecting The Cost Of Solar Energy

Here is a breakdown of the true cost of the use of solar energy. This data may not be reflective of all circumstances because of the natural inconsistencies that come with the infancy of the technology. Other factors that you have to consider when computing the true costs of solar energy include differences in sun exposure due to geography, the demand for solar panel equipment and installation services within a specific area and government policies regarding use of solar energy.

According to a report published by the Renewable & Sustainable Energy Reviews, the cost of using solar panels is at $7.70 per watt in Germany. This is higher if compared to Japan’s $4.70 per watt. In the United States on the other hand, figures range from $5 to $10.50 not reflecting any of the government incentives offered. If we add everything up Americans will have to cough up anywhere from $9,400 and $21,000 for every installation. These figures were from back in 2009. However, in 2011, prices of solar panels and their installation have registered a 50% drop.

Incentives

Cost of solar energy, 090624-F-203

Cost of solar energy, 090624-F-203—Lance Cheung (Flickr.com)

Usually, incentives come in the form of subsidies and grants. It’s not just the American populace that gets to enjoy these benefits because more and more countries are developing their own forms of incentives. With federal intervention cost of solar energy in states offering incentives will only be at around $0.28 to $.046 per kilowatt hour.

Consumption

With the use of solar energy, you need to factor in your electric bill savings. Calculate how much you’re saving in electricity every month and subtract that from what you paid when you had your solar panels installed. And with carbon emission taxes – something that electric companies using fossil fuels are burdened with – the cost of fossil fuel energy is only expected to keep on rising while those relying on solar power won’t have to worry about these price fluctuations.

Summary

Overall, the true cost of solar energy differs according to country, political and socio-economics factors, but there can be no doubt that over the long term, there are substantial benefits to be gained from using renewable sources of energy.

The writer, Jamie Press, works on several effective environmental programs . He gives valuable advice on alternative energy and even provides accurate solar quotes

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