Solar panels for home

With the price of petroleum constantly in the news and ever increasing utility bills,
it would seem to make sense to buy solar panels . US Government predictions estimate
the cost of crude oil will more than triple over the next five years. Oil is one of
the prime fuels used for generating commercial electricity – what you get from your
supplier. This rise in crude oil could see your electric bill escalate to more than
six times what you are paying today. There are a number of coal burning generators,
but those are being decommissioned for pollution reasons. The sun is not only clean,
it is going to last for another five billion years. So, why aren’t solar panels the answer?

Well, solar panels are not very efficient in the way they generate electricity. Even
the best types of panels, first generation cells, only have about a 30% conversion rate.
The high cost to manufacture these cells means it takes approximately five years to
recover the cost. Other versions of solar cells are cheaper to make and may get as much
as a 20% conversion rate meaning it only takes two years to recover cost. But that’s
just to recover cost and the initial outlay can be huge. If you do not live in a high
sunlight area, the time to recover the cost can increase.

Most homes would need five or more solar panels to completely supply their energy needs;
however most installations (and roofs) only support the installation of four panels.
The average price for four panels installed in 2008 was over $37,000. This would create
an estimated savings of about $2.30 a day in your electric bill – about 44 years to make
back what you spent on installation. So, as much as we all might want to “go green” it
doesn’t seem that solar panels are really an answer for the average homeowner.
Unless you take the long view.

Solar panels installed in the early 1950’s are still in operation today. There is little
wear and tear the panels so they can produce energy practically indefinitely. The cost of
one kWh in 1950 was only 1¢; that same kWh is now 12¢ on average and expected to double
in the next two years. There are numerous government grants which can cover a majority
of the installation cost, making the return on investment much quicker. And solar energy
is completely clean.

SOLAR PANELS THE ANSWER