NewEnergyNews More: Why The Solar Deal Keeps Getting Better

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  • Monday, November 21, 2016

    Why The Solar Deal Keeps Getting Better

    4 Reasons The Cost Of Solar Energy Keeps Falling

    Sarah Lozanova, November 21, 2016 (Earth911)

    “…Solar power is growing at an unprecedented rate of 43 percent, year over year…[and its plummeting cost] is fueling a boom in popularity…[S]olar has already achieved price parity in 10 states…[The costs of manufacturing panels, inverters, and racking] have come down at a steady pace each year…This downward price trend is very common with new technologies. Remember how expensive new DVD players and cell phones were when they were first introduced? The cost per unit declines sharply once manufacturing kicks into high gear…[The most efficient solar panels available on the market have an efficiency of 22.5 percent and] most panels are in the 14 to 16 percent range…Efficiency in turn fuels greater opportunities to sell more solar generation capacity…[T]he Solar Investment Tax Credit has offered greater stability and a significant incentive for installing solar energy systems, for both the residential and commercial markets…[The recent solar energy trends are expected to continue because the] lower the price of a solar system and the shorter the payback period, the more people will go solar…” click here for more

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