There are two ways of transforming solar energy to electricity: either through the use of concentrated solar power (CSP) or Photovoltaics (PV). Each method of creating solar power uses different materials and equipments and so the installation costs will vary.
Solar power installation has benefited homeowners by cutting their power bills and saving money. But do the savings that you get from using solar power outweigh the initial cost of installing a system?
Solar power installation fees also depend on whether you opt to use a ready-made solar panel or use a DIY one. Pre-made solar panels could cost you about $12 per watt which could add up up to $900 per panel. With this kind up front expense, the cost of powering a small or energy efficient home could reach to $25, 000 for a medium sized system. While large houses that uses solar power would require a budget of up to $50,000 for the installation of solar panels. With government subsidies, however, installation of small-scale sustainable electricity alternatives like the solar, hydro and wind electricity systems become much more affordable. A list of current schemes supporting the installation of solar power for homes and business is available from the website for The Office of Renewable Energy Regulator.
Alternatively you may consider making your very own solar panel! Many people think that a DIY solar panel is difficult to construct but actually it isn’t. Building one on your own would only need a few common tools and a bit of effort. Knowledge and step-by-step guides on how to build a solar panel can be found almost everywhere and there are a number of video tutorials available online as well as books and other resource materials s that will make your project easier.
Usually, people go for solar power thinking that it is more energy efficient than commercial electricity. While that may be correct, the reality is that moving to a renewable power source is only part of the solution: you still need to make your home as energy efficient as possible in order to reduce the amount of energy that you need. In this way not only is the initial cost of solar power installation reduced, but, if your home is energy efficient, it will require less electricity and therefore a smaller solar power system. Generally speaking, saving electricity is cheaper than generating it so invest in making your home energy efficient and install solar power system for you to maximise the benefits of saving energy.