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The cost of solar panels per watt is a little pricey these days at $3.66 per watt. However, it is being said that this price will drop to $2.14 per watt by 2010. The thin film PV is also going to be dropping from $2.96 down to $1.81. These figures are great due to the fact that it should entice more people to install solar panels in their homes and businesses to save on electricity.
Recent research and development in production has resulted in new solar cells that are getting more and more efficient. Photovoltaic cells have been made from a single material, silicon, which achieves about 25 percent efficiency. New stacked material cells are gaining up to 40 percent or better efficiency in converting light to electrical power energy.