Have you ever thought of having your own electricity production unit? May be no, this is because you are not aware of the cost and efficiency of solar power stations. Solar power stations not only release you from the control of your electricity supplier but it enables you to save a lot of money. The charges of electricity are increasing day by day world wide this is mainly due to the scarcity of natural resources like water and bio fuels. The governments and power companies tend to shift this load to the utility consumers. Hence we witness the sudden increase in per unit cost of electricity. Governments worldwide are emphasizing on industry and household o make use of solar energy in order to deal with problem of extreme pollution.
Solar Power Plant for Domestic Use
About 15 years ago the solar power plants were 10 times more expensive than they are today. The development in this field has lent a hand in reducing the prices. The decrease in the prices of solar panels is forecast ed dependent upon the growth of the market. Installing a solar panel at the roof top of your home might look like an initial large investment. However if you look at the long terms benefits associated with these solar panels the cost is nothing. Moreover if you compare the benefits and the cost of deploying solar panels, you would end up enjoying its benefits more than its cost. Solar power system gives you enough freedom to use electricity without any further tax payment. It allows you to operate your own electricity power plant. One important factor which should be considered while deploying this system is that analyzes your power consumption prior to installment. The cost of equipment and installation varies with the size and consumption of the household users.
Calculation of Cost
Suppose you pay $60 to $80 every month in your electricity bill. This cost along with the apprised increase in electricity charges leaves you with little or no saving. On the other hand installation of solar power plant is a one time expense. For example a single solar panel costs you $1000 to $1500 only. This is a one time expense and it includes all the government taxes, rebate and tax credit. Hence you end up using very cost friendly package because now you are able to enjoy the long term benefits of deploying solar power system. If we analyze the cost associated with the efficacy of solar collectors and solar panels it is amazing. An average photovoltaic panel has an estimated energy conversion of about 20 to 25%.hence if any panel receives unobstructed sunlight for constant three hours on 1 square meter is about $0.05%.therefore it is much lower as compared to use of other biofuels. Here it should also be noted that heat consumption efficiency for solar water heaters is same as the efficacy for oil. Whereas the cost of oil is $2 per gallon while of sun it is only $0.14.
Comparison of Solar Energy to Other Natural Resources
Another important consideration while comparing the cost of solar system is its availability. We all know that solar energy is free and it is everywhere. There is no heavy machinery required to drill it out like other bio fuels. This is the only natural resource which is neither the property of any specific government nor any person. Every individual or the planet earth can utilize it n unlimited quantity. The free availability of this natural resource makes it desirable to use by individuals as well as the governments. On the contrary still people believe that cost of solar power systems is more. This is because of many other factors. First of all the amount of electricity generated by solar power houses is very less as compared to the electricity generation by other means. Secondly the solar power houses require a significant backup power system in the form of batteries and wind mills. Single solar panel can not produce enough electricity to support domestic and commercial needs. Hence an array of solar cells is often required to cater the needs of individuals and businesses. So far the solar panels are really expensive but the increase in the production of these solar panels can help lower down its prices.