Solar Panel Innovations
Generating electricity by converting the radiant energy from the sun is no longer new or novel. In many countries around the world, it is the leading source of electricity. It is now a lower cost form of energy compared to coal-fired turbines. However, the innovation and change in the industry has been slow.
Developing more efficient solar panels has crawled forward. Twenty years ago, a panel might output just 100 watts, ten years ago it was improved to 200 watts, and now it is over 300 watts and closing on 400 watts per panel. So, the efficacy of the solar panels has gradually improved.
At the same time, the cost per panel has dropped over the same two decades. However, it is still very high. For example, for a 2500 square foot home, the capital outlay is someplace near $18,000.00 to $20,000.00. If you add in a smart battery storage solution to provide 24 hour a day performance, the costs increase by 50% to 100%.
One vendor is noted as providing a subscription service whereby consumers can pay a monthly fee for the solar panels on their rooftop which spreads the costs out and makes it more affordable, but necessitates sharing the benefits to offset the costs.
