Sure it's not cost effective. Prototypes and one-offs rarely are.
As a proof-of-concept, though, it's highly successful. This guy is demonstrating, not just hand-waving, that one can be entirely energy self-sufficient through solar power, even with the crappy efficiency of current mass produced photovoltaic panels.
Find a way to increase the efficiency and/or drop the price of the panels (and H2 storage system, fuel cells, etc) and it starts to look really attractive. More so if you want to build somewhere way off-grid. And without some of the attendant problems of a windmill.
The next time somebody argues that you can't live off-grid just on solar power, you can point to this guy. Then the argument comes down to cost-effectiveness, which depends on a lot of other factors.
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