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Conclusion

1. Technology and Efficiency The type of technology used in solar panels greatly influences their rates. Photovoltaic (PV) panels, which convert sunlight directly into electricity, can range from traditional monocrystalline panels to newer technologies like thin-film and bifacial panels. Monocrystalline panels are generally more efficient and costlier than polycrystalline or thin-film panels but offer better performance in limited space.

As of 2023, the average cost of solar panels can range from $0.70 to $1.50 per watt, depending on the factors mentioned above. For a 2000 watt solar panel system, the raw cost for the panels alone might range from $1,400 to $3,000. Adding installation, which can range from $1,000 to $5,000, the total system cost could fluctuate between $2,400 and $8,000 or more.