Solar energy is a renewable resource that comes directly from the Sun. Through solar heating and solar electricity, a home or business owner can substantially offset her electricity costs.
Solar photovoltaic systems can cost a homeowner $20,000 to install. That puts the base cost for solar electricity at between $10 to $12 a watt.
Solar concentrators utilize mirrors to focus the sunlight more directly onto photovoltaic panels. Solar energy costs drastically decline if fewer photovoltaic panels are required for maximum energy output.
According to the Solar Guide, solar water heating systems cost less than $5,000 and can cut energy bills in half. Solar water heaters typically pay for themselves in less than three years.
The most cost-effective use of solar energy comes from passive solar. Essentially, this is a design technique that constructs buildings with large windows facing the sun for heating and uses convection to recirculate the air.