Solar energy technology has come a long way since its beginnings in the 1950's. New technologies and manufacturing methods have drastically improved efficiency and lowered cost over the years, allowing homeowners who want to go solar to spend less money, and produce more energy with fewer panels. Due to this progression of falling prices and higher efficiencies, homeowners who are researching solar may think that waiting until the technology is even better will provide them with a better return on investment. The question is then, how fast is solar technology actually improving and is it worth waiting for better panels to be released?
The original solar cell as we currently know it was invented and patented in 1954 by D.M. Chapin, C.S. Fuller, and G.L. Pearson of Bell Laboratory. The silicon-based cell they made was the first of it's kind due to its stability and reliability, but its efficiency was very low at 4%. Shortly after, another company, Hoffman Electronics invented the first solar panel for sale to the public, at a steep cost of around $1,785 per watt, with solar cells at only 2% efficiency. Today, with inflation, that would be around $16,000 per watt, an abomination compared to the $4 a watt we are actually paying now.
The 1970's and 80's saw an explosion of utility-scale solar energy due to government intervention. The Environmentalist movement, and an energy crisis brought on by the Arab Oil Embargo, prompted the US to enact The Public Utility Regulatory Policy Act and the Energy Tax Act of 1978, which provided large tax credits to homeowners who added energy efficiencies to their homes, as well as a framework for solar interconnections. This sparked the creation of the first utility-scale solar farms, which not only made the idea of solar go mainstream, but attracted investment money into photovoltaic research and development.
Michael is one of the founding partners of Stellar Solar. In 2001, he helped launch The Home Depot’s national solar energy program which is now offering home solar through hundreds of stores in nearly a dozen states. He is a writer and marketing professional with over 30 years’ experience in the fields of energy, market intelligence and leadership training. He currently serves as treasurer and board member of Global Energy Network Institute (GENI), a San Diego-based non-governmental organization that advocates linking renewable energy resources around the world using electricity transmission.
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