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Solar Panel Efficiency and Solar Panel Cost


Solar Panel is series and parallel arrays of solar cells which connected with electric connections to produce electric power for various applications. Solar panel is mounted or supported by mounting assembly which set solar panel to angle from earth so it receive more direct sun rays, that’s improve conversion efficiency of solar panel. Small two to four solar cell panels are used in calculators to hundreds of solar cell panels used in commercial power generation, solar panel have vary wide application area. solar panel generates power in DC form which can be used in same form or can transform in AC by using solar inverters. solar panel is rated by its DC  output power generated by solar panel it typically ranges from 100 W to 320W. Very large improvement have seen by industry in solar panels cost in last five year and it become cost comparable to conventional sources of energy in most of parts of the world. In following article we discussed cost ,efficiency and module aging in brief.


Solar Panel efficiency is ratio of  how much power can solar panel generates from solar radiation to total available power in solar radiation. which depends upon the absorption of solar radiation at solar cell junction boundary. More wide band solar radiation absorption more the efficiency of solar panel. But practically single junction solar cell can absorb limited portion of solar radiation hence the conversion efficiency of this type solar cell is beat low.

Solar Panel conversion efficiency is depended upon materials used in solar cell and technology behind the solar cell manufacturing. Because different materials solar cell have different energy band gaps due to this  it is main reason behind efficiency differences in different technologies of solar panels.   maximum single junction solar cell efficiency  is recorded to 25% for mono-crystalline solar panel.For polycrystalline is recorded around 21%  and for thin film solar cell is ranges around 17% maximum. Solar panel efficiency is always less then the solar cell efficiency and Currently the best achieved sunlight conversion rate  is around 21.5% in new commercial solar panels typically lower than the efficiencies of their cells in isolation.

The energy reaching from sun to earth is always constant and its value is 1857 watt/m² which is known as solar constant. If we can absorb higher band width of solar radiation using solar cell we can achieve higher efficiency. multijunction  solar cell  uses the same principal for conversion. In this types of solar cell there are multiple junctions which absorb different  portions of solar radiation hence conversion efficiency of this solar cells are quite high. Maximum efficiency achieved by this type solar cell is 45%. But due to high cost of manufacturing this technology can not be used for general purpose of use.


Solar Panel cost is one of most important term associated with future of solar panel cost is decreased a lot in last decade now it become cost comparable to conventional sources of energy such like petroleum and thermal. there are many parameters associated to solar panel cost such like technology  behind solar panel, materials used in manufacturing of solar panel and it also depends upon quantity of solar panel needed.

Solar Panel cost vary with the technology of  manufacturing of solar panel.example of  that, cost of amorphous silicon thin film is quite low then conventional crystalline silicon panels this happens due to thin layers of material is used in thin film compare to thick wafers in crystalline solar panels. Due to efficient use of silicon and technology enhancement of panel manufacturing results into cost effectiveness. same is stay correct for materials used in solar panel manufacturing. Solar panel cost vary for crystalline silicon is around 0.85$ per watt to 0.55$ per watt for thin film technology for general purpose use.

solar panel cost can be categories according to quantity required to purchase  from solar panel manufacturing utility. those buying small quantities of in KWs range is called as small-range buyers, mid-range buyers are who buy solar panel up to 10 MW and above buyers are called large quantity buyers, which access to the lowest prices.

there are many new technologies under research which having very high cost to performance ratio such like bio- hybrid solar cell, dye sensitized solar  cells and many other third generation technologies for which cost per watt will decrease to 0.25-0.30$ . But due to different issues associated with them, they are not commercially available yet.


Solar Panels are made to last for longer time period. They must withstand against many natural parameters like temperature, moisture , rain,storm and  hail. Due to this type parameters solar panel performance year by year decreases. It becomes reason for retirement of module from work. Many crystalline silicon module manufacturers offer a warranty that guarantees electrical production for 10 years at 90% of rated power output and 25 years at 80%. After completion of work period, solar panel can be recycle according type of solar panel.


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