Average pricing information divides in three pricing categories: those buying small quantities (modules of all sizes in the kilowatt range annually), mid-range buyers (typically up to 10 MWp annually), and large quantity buyers (self-explanatory—and with access to the lowest prices). Over the long term there is clearly a systematic reduction in the price of cells and modules. For example, in 2012 it was estimated that the quantity cost per watt was about US$0.60, which was 250 times lower than the cost in 1970 of US$150. A 2015 study shows price/kWh dropping by 10% per year since 1980, and predicts that solar could contribute 20% of total electricity consumption by 2030, whereas the International Energy Agency predicts 16% by 2050.
There are many practical applications for the use of solar panels or photovoltaics. It can first be used in agriculture as a power source for irrigation. In health care solar panels can be used to refrigerate medical supplies. It can also be used for infrastructure. PV modules are used in photovoltaic systems and include a large variety of electric devices:
Since wife is into historic preservation buy older homes to fix up and remodel for extra cash every few years so we have always been limited by the home as it was originally designed. Well we are finally considering doing one for ourselves and with the kids finishing high school it can be much smaller. Reading your blog has given inspiration for many aspects of our lives, working less, living more and enjoying simple things. Thank you!
From a strictly financial perspective, I’m still not sold. The returns you mentioned (about 12%) are great but aren’t factoring in the loss of principle. I suppose the system will have value in the future for resale, but I have a hunch in ten years that setup will be laughably outdated. Not as outdated as no setup, however :) But it’s not all about the money, and I appreciate the clear info. It looks much more DIY than I thought.