How efficient is solar panel application to a medium sized (1700 square feet) home as compared to traditional methods of electricity?

Economically, how do the two sources fare?

If you are living in an area with sun most time of the year,the idea is very good.You will have cost effective electricity almost all year round.But as I said in another post here,the initial investment for a complete solar panel home installation is very big,so you need to think it over before attempting this.As for practicality,I don't think you'll be able to over-charge the house with twenty things turned at once like some like to do.

There are a lot of things to be considered. It really depends on how much energy you use everyday anyway. How your property is set up is important, too. A house that receives lots of direct sunlight will obviously do better with solar power than one that has a lot of shade around it.

Solar panels are very expensive as well, so that's something you need to consider. They don't add enough to the worth of your house to make it worth it if you are only planning on living in your house for a short amount of time.