Costs and Economy
Costs of production have been reduced in recent years for more widespread use through production and technological advances. As of 2011, the cost of PV has fallen well below that of nuclear power and is set to fall further. The average retail price of solar cells fell to $2.43/watt. For large-scale installations, prices below $1.00/watt are now common. Crystal silicon solar cells have largely been replaced by less expensive multicrystalline silicon solar cells, and thin film silicon solar cells have also been developed recently at lower costs of production. Although they are reduced in energy conversion efficiency from single crystalline "siwafers", they are also much easier to produce at comparably lower costs.
Read more about this topic: Photovoltaic System
Famous quotes containing the words costs and/or economy:
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
—Adam Smith (1723–1790)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)