Costs for Solar Panels Set to Drop
I’ve read something very interesting on the BBC website recently, about the drop in prices for solar panels.
Solar energy is impressive because it is renewable and it is eco friendly. But one of its downfalls is the fact that the set up equipment is very expensive.
But studies have shown that in the last few years prices have dropped considerably and that they will continue to do so. Also, many solar panels were predicted to last only 20 years and they resisted for 30 years.
This means the lifetime cost is brought down. Researchers say that the panels are a very good long term investment and that banks should offer mortgages on them just like they do with homes. By 2020, studies say that the solar power will be competitive with the energy grid. In many EU countries like Germany, Spain or Italy the government helps people set up their own solar panels. In those countries the prices have decreased with nearly 30%. This happened due to the recession. Heinz Ossenbrink, a researcher says that China is also going to invest in solar industry and they will support a domestic program that will make prices drop. India and US have also invested in solar plants. Dr. Ossenbrink says that even the car industry will also use the technology and prices have dropped.
In the last few months many panels have been placed and they can resists to almost 30 years without decreasing the performance. Dr Ossenbrink tells that the 40-year panels can be on the market soon. The grid parity is the key goal of solar panels. In this way a person can use solar power but it is not as cost efficient as the energy grid. The goal is to be able to get solar power as the same price as you would have taken it from the grid. It is also estimated that 50% of Europe will sustain the grid parity by 2020. The only countries that will have to wait a little, probably till 2030, are the northern, cloudier countries. These are Great Britain, Norway and Sweden.
Dr Ossenbrink explained: “Basically everything (in the industry) is bound to grow still further. Growing further means less cost. Less cost means grid parity.”
