cost of solar
What allowed solar to go from what was considered a niche market product to recently dominating the new electricity generation capacity added to the U.S. grid? The answer really is found with the continuous reduction in solar costs. Solar panel production costs have decreased more than 100 times in the last 40+ years. For a large portion of that time, solar generation was a very small part of the total energy production mix, which was due in part to solars cost competitiveness relative to other electricity generating sources.
Today….now, it makes sense to consider the investment in solar as it has become cost competitive against conventional forms of electricity generation. The trend will continue and solar panel production costs will continue to decline, while solar installations will continue to increase.
It is expected within the next few years that grid parity will be reached, meaning the cost for providing a new energy source (solar energy in this case) is “level” with traditional ways of producing electricity such as coal, oil or gas. Additionally, solar investments are experiencing great returns which attracts money, helps reduce costs, and pushes the technology further. There is no better time to capture your own solar power.
What does this all mean for you?
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