The study covers all types and sizes of photovoltaic solar generation and indicated a wide overall difference for large and small scale systems. For under 2 Kilowatt the price was US$9.2 per watt and for larger systems over 500 Kilowatt this reduced to and average of US$6.5 per watt.

Rooftop Solar Panel

The solar generating capacity has show dramatic increases from under 0.2 megawatt to over 800 megawatt in 2008. The price drop will no doubt continue for the years to come but this will also see a reduction in incentives as the industry becomes mature and self sustaining.

Over the Atlantic in Germany the market is already maturing and there an expected price drop of 10% in the next year.

This raises a dilemma for those wishing to install solar energy for the purpose of saving costs. Should you wait until next year when the price has gone down or should you take the plunge now. Incentives and rebates will not last forever and are already being reduced in some areas. Each year you delay means you are paying more than you need for your electrical power use.

For those who live in locations that are not grid connected then they choice is already made. Installing solar energy has never been cheaper than it is now and there cannot be may ways that are clean and friendly to the environment that also let you enjoy the benefits of electrical power.

Related posts:

1. Solar Panels Cost to Drop
2. Solar Hot Water Cost
3. The Cost of Energy from Wind Power

Hot Water Shower

Unlike some other solar systems, a hot water installation using solar energy might not be as expensive as you first think. First of all there is not really one type of system that can just be bought over the shelf and plugged into your home. A few factors need to be taken in to consideration about your current water use, your location and how you currently heat your water. Expanded systems may also need to include other forms of heating by hot water. For instance, if you decide to include under floor or radiator heating then a much larger system would need to be used than just for domestic water use.

For a typical family of 2 or 3 a water storage tank of 60 gallons may be needed for a larger family or if you are planning for the future then a tank with around 100 gallon capacity would be more suitable.

To capture our solar energy we need solar collectors, these are much like photoelectric solar panels from a distance. On closer inspection we see them more like water radiators with which we will capture the heat from the sun. The size of these collectors depend on the size of your storage tank and how much of the suns energy you can expect from your location. A good indicator would be 1 square foot for each gallon of your storage tank. A 60 gallon tank would need 60 square feet of solar collector or 6feet by 10 feet of area, around the size of two doors.

These are the two main parts of the system, along with piping to connect it all together and integrating it into you current water system. Along with some electronics to control the installation an a small pump to circulate the water up to the collectors.

Typically this could set you back US$3 to 4,000 for a family of 3 and maybe US6- to 8,000 for a 6 person household. Once we take into account the incentives and rebates that are available then we can reduce this amount, this varies by state and country. Cost can be reduced by 30% or more so our US$4,000 cost is not only costing you US$2,800. Taking those rebates in to account can dramatically reduce you the amount you pay.

For an installation cost of US4,500 the rebate would take this down to US3.150 upfront costs to you. Each month you will save on your energy costs as you are now heating water using free energy. We can use this to calculate your payback time.  US$40 or more savings each month is possible and this would mean $480 every year. Around 6 years for you investment to pay for itself with is quite remarkable.

We should also taking into account the rising costs of energy which should rise dramatically in the oncoming years are energy becomes much more expensive, but you would not have to worry about that as you are getting your energy for free.

This installation would also increase the value of your home by quite a few thousand dollars. Taking everything into account at the end of say 15 years you could be as much US20,000 or more  in profit.

A reputable dealer should be consulted for a tailor made system for your home and they will give you an accurate estimation of exactly how much a system would cost you. The larger your current consumption would mean a more expensive system, but these actually are more cost effective and payback much quicker.

Solar hot water costs are important but costs can be reduced with the incentives. The security against rising cost of energy is guarded and if you treat this more like an investment then you will be in profit in a few years time.

Related posts:

1. Solar Hot Water Rebates For Homes
2. Solar Hot Water Heating Panels
3. Installing Solar Hot Water Panels