The cost of solar panels is quite variable. There is no upper limit to how much money you can spend on a residential solar power system. I guess you are limited to some extent by the amount of surface area at your disposal. The realistic number for a serious solar power system, one that is professionally installed and connected to the grid, is $20,000. The cost of professional installation is a pretty big portion of that round number. Retailers of solar power components are now providing extensive advice to people who want to install their own components.
Experts are predicting that the cost of solar panels will drop in the future.
A portable unit that is suitable for a boat or RV can be had for less than $1000 but these units have very limited output.
The best bang for your buck is actually solar water heating. A system can be installed for around $5000 and it can reduce your water heating costs from 50-100%. If you presently use electricity to heat your water you can expect to have the unit pay for itself in just a few years. The price for solar water heaters quite variable, I was able to find one that is made in China for $235 plus shipping. The most expensive system on the market is equipped to provide in floor radiant heating for your home as well as hot water. It costs almost $25,000.
Buying in bulk to save money is a strategy that we all know about. Is their such a thing as buying solar panels in bulk? Well, some suppliers have pallets packed and waiting for a buyer. If you have project that requires this many panels, you can potentially save some money.
Photo Credits: TVentano / Haversack
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