The Cost of solar energy compared with cost of electricity

Most of the electricity comes from fossil-fuels. An enormous demand of electricity is there but the amount of fossil fuel reserves are decreasing day by day. The demand for solar power is more since it is derived from natural resource like sunlight which is available in abundance. Solar electricity is now in limelight,earlier it was solar heating that was used for decades. The first solar powered stadium has been recently inaugurated at taiwan. Solar systems designed to replace electrical usage are now catching on in a very big way.

 

The concept of using solar power for homes has come a long way in a relatively short period of time. The sunlight is converted to electricity by solar technology using solar cells. The generated electricity can either be used directly or stored in the batteries and used for various applications like running tube lights, computers, dishwasher, ice maker, fans and TV etc. One of the major doubts that most of the people are what is the cost of solar energy? Is it of low value or high cost? Regardiing this let me share some information.

 

One of the major issues with the cost of solar energy has been that it costs more than electricity that is generated by conventional means. The Sun’s energy is free but the technology used to convert it to electricity is very costly. The cost of solar power for one unit is Rs 15 while it costs just Rs 1.19 per unit from coal. The price of solar power varies on the power wattage utilized by the consumer. To get more power,the cost increases on purchasing the bigger solar panels. It will cost $14000 for installing a good home made solar water heater system. It can reduce your monthly hot water heating bill between 50 – 100%. To power a computer and a few other small items using solar energy system,it will cost you about $700 to $1000.

 

The cost of solar power for your home depends on how much energy in kilowatt-hours (kWh) do you use per month. Investing by Dollars per Watt is the best way to choose solar panels. The Price of photovoltaic panels have dropped at a steady rate of 3-5 percent per year since last decade. However, prices may not seem all that low to you, because in general the technology is getting better, so each panel is making more watts than those of a few years ago.

 

Because of strong demand for large photovoltaic installations around the world, there has been a general shortage of new panels. The best places to look for PV panels are your local newspaper classifieds. The Banks & Government provides loan facilities for purchasing solar lighting and heating systems. If you are purchasing the solar panels for installing at house then the insurance company give insurance to it just like other household items.

 

 

Now solar enterprises are spreading the awareness on the huge potential demand for solar batteries in the domestic market supported by government and implementing low priced solar technology. Fossil fuel reserves generate energy to countries as long resources are there,but the energy of sun is limitless for several generations that may come. Without leading to pollution,vast solar farms will come up in future that will be generating cheaper power for the entire city.