Why aren’t PV modules in widespread use?
Photovoltaic modules are currently too expensive to be cost-competitive with readily available utility power. However, PV costs are decreasing. When the first photovoltaic systems were used by NASA to power orbiting space satellites, the costs were as high as $1,000 per peak watt. (Peak watt is the amount of electricity produced by a PV cell when bright sunlight is available.) An individual can now purchase modules for $4 to $10 per peak watt. When photovoltaic module costs are reduced to about $1 per peak watt, they will be competitive for electricity production in residential settings. At that price, an installed PV system large enough to provide substantial amounts of residential power would cost about $10,000 a great deal of money, but not too much to pay for a power system with at least a 20 year life span and a probable payback time of about 10 years.
