In 2010, the cost of a solar system was around $7.50 per watt. So, it cost about $37,500 to run a 5 kW solar system. By now, the cost of a solar system has dropped by about 60 to about $3 per watt. At this point, it only costs about $15,000 to run a 5 kW solar system, less than half of what it originally cost.
As early as 1883, Charles Fritz through the assembly of selenium and platinum realized the conversion of light energy into electricity, but due to the high cost and low efficiency, and no practical application. Before that, there was also a French scientist who discovered that sunlight can form an electric current, but it was not taken seriously at the time. Thereafter, in 1954, after Chapin, Fuller and Pierce three scientists efforts, and finally invented the first practical solar cells,.
In 1957, the efficiency of silicon solar cells was only 8%, followed by the world’s first polycrystalline silicon solar cells, but the efficiency was only 5%. After decades of development, the conversion efficiency of solar panels is also only about 20%. However, with the advancement of technology, the development of some new Monocrystalline solar energy technology, so that the efficiency of solar panels can now reach 40%.
The electricity generated by your solar system is first for your use, and if you don’t have solar cells installed, you can sell the remaining electricity to the grid company for a profit. In addition, you can also profit from the difference in peak and valley electricity prices. When electricity prices are high during peak hours, you can use solar cells to discharge and then recharge them when electricity prices are low, thus reducing your electricity bill.
In most people’s perception, solar panels can only absorb and utilize direct sunlight that hits the panel, but this is not the case. Whether it is direct light or not, when it hits the solar panel, it will be absorbed and converted by the solar panel, but its conversion efficiency will be slightly reduced. This is perfectly illustrated by Bifacial solar panels, which work on both sides, with the reverse side working mainly by sunlight reflecting off the glass or mirror onto the panel.
The amount of electricity produced by solar energy is related to its efficiency, and under ideal conditions, the amount of electricity it can produce will be higher. A 300 watt solar panel, if the average length of sunshine is 4h per day, then it outputs about 1200 watt-hours per day, if the light intensity is weak or affected by other factors, the amount of electricity produced will be lower.
Currently, there are most of the electric transportation to run through the solar panels to generate electricity, which not only saves energy consumption, but also friendly to the environment. In recent years, scientists have developed airplanes that can fly using only solar energy. In the future, if this kind of renewable energy can be used in aviation on a large scale, it will be very beneficial to the environment and energy saving.
Generally speaking, the efficiency of solar panels will drop to about 85% after 25 years, and with the passage of time, its efficiency will be slowly reduced, and if we do not take into account its low efficiency, its service life can even reach more than 50 years.
From the perspective of the lifespan of the earth and the sun, it can be said that solar energy is inexhaustible. And compared to other renewable energy sources such as wind and tidal energy, solar energy may be utilized globally, and the conditions for its utilization are relatively simple, which can provide energy for human beings in a sustainable manner. In addition, the sunlight that hits the earth in two hours can provide global energy consumption for a year, and it will be an important development direction of green energy in the future.
In recent years, the solar energy market has been expanding all over the world. In 2024, compared to 2022, the number of solar installations increased by more than 50%, more and more people are using photovoltaic power generation, but also due to the advancement of solar energy technology, its cost is gradually reduced.
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