Because of the proliferation of Chinese panels, the arrays themselves are now down to around $1 per watt. Panels rated at 250 watts can be had for less than $300. Then add in the balance of the equipment: wiring, inverter, control center, grid-tying, installation, etc. - maybe another $1.50 to $2 per watt - less if you can DIY the install.
WITH federal and state subsidies via tax-credits (65% combined here in NC), you can re-coup costs in 5 years. Plus, you’re fixing your cost of electricity, vs. being subject to regular increases from your utility company.
WITHOUT subsidies, it’d take 15 years to pay for itself. Panels degrade over time, and the typical warranty is that they’ll produce 80% of their rating at 25 years. That means break-even at best vs. doing nothing.
If costs continue to decline, you’ll probably see more adoption - at least until the subsidies expire in 2016 (unless renewed). I’m half-considering it myself - I’m way over-taxed, and this would be a way I could get some of it back. But it will be an economic decision - not because I’m worried about the size of my carbon footprint.
Thanks for the update. It has been a while since I stuck my head into PV installations.
PV makes a lot of sense in certain situations but it is indeed a economic decision. I still think the govmint needs to get its nose out of the business and let the market decide.