The average cost of solar panels in 2014 fluctuated from 70 to 73 cents per watt, according to Clean Technica. This price is half of what panels cost in 2008 and approximately 100 times lower than the average cost per panel in 1977.
Solar panels work by allowing photons to knock electrons free from atoms, which in turn generates the flow of electricity, states Live Science. Solar panels consist of smaller units called photovoltaic cells that convert sunlight to energy.
The photovoltaic cells do not work without establishing an electric field. The separation of opposite charges is what creates this field. Silicon and other materials within the cells produce the needed electrical charge.