Between 1977 and today, the cost of solar panels has dropped by an insane 99%.
I know, I couldn’t believe it either, but it is true! In 1977, one Watt of a solar cell was $77; today, it is just 21 cents!
Not only is solar energy cheaper now than it ever was before, the most abundant source of power in the world, the sun, is not going anywhere!
So how much does one solar panel cost anyway? Let’s find out!
What is a Solar Panel?
Solar panels harness clean, renewable power from the sun and convert its light into electricity, which is then used to power an electrical grid.
A solar panel is made up of many single solar cells, which are in turn made up of silicon, phosphorous, and boron.
Solar panels absorb the photons (pieces of light) and, in doing so, start up an electric current. The power generated from photons hitting the surface of the solar panel allows electrons to be bumped out of their atomic orbits.
The electrons enter the electric field caused by the solar cells, which then attract these loose electrons into a current.
This entire process is known as the Photovoltaic Effect.
Typically, a group of solar cells generates power during the day, which is subsequently used at night to power lights, electric cookers, and water heaters.
Types of Solar Panels
There are two types of solar panels on the market; photovoltaic panels and solar thermal panels.
Photovoltaic panels can produce electrical power from the sun without needing any moving pieces. This is the most commonly found solar panel because it is able to produce a large amount of electricity.
Because this type of panel does not have any moveable components, they are usually used for smaller roofs.
With regard to solar thermal panels, these panels are special because they heat water by absorbing sunlight. The heated water is then delivered where it is needed by pipes.
The best thing about this kind of panel is that you only need two to three panels, making it more cost-effective to install than a photovoltaic system.
The drawback is that it is only used to heat water and does not create electricity.
How Much Does One Solar Panel Cost?
Looking at so many factors, suppliers, and technical considerations, we can expect to pay around $200 to $250 per panel, which is about a dollar a watt.
A supplier near you can be your solar panel guide.
After solar tax credits, the total price for a solar panel system on an average-sized house in the United States can range from $11,150 to $14,700.
Small, low-end systems can be as cheap as $5,000, while your top-of-the-range 100% solar systems can cost up to $40,000.
The Power is in Your Hands
Now you know “how much does one solar panel cost?” The initial outlay for solar panels may seem high at first but considering the average US electricity bill is $1,500 a year, you know your solar panel system will pay for itself in no time.
And of course, you will not just be saving money, you will be saving the environment, too.
It is the right choice to make, so empower yourself by making it.
