Solar Panels for Electricity

Solar panels for electricity cost

According to recent research, solar panels for electricity cost are going to come down much faster than expected. Tests have been able to show that about ninety percent of current solar panels have a life expectancy of about thirty years and not twenty years as was thought earlier. This is a factor that has helped to bring down the solar panels for electricity cost by a considerable degree.

Solar panels for electricity – long term investment

According to experts, solar panels represent a sound long term investment and this has led to banks offering mortgages on solar panels. This is being done in much the same way as is done when providing a mortgage on a home. There is also reason to hope that solar panels for electricity cost will become much more cost competitive in the future and it is expected that the lower solar panels for electricity cost will motivate more Europeans to switch over to using solar panels for electricity generation.

European countries offer incentives

There are already many European countries (including Spain, Italy and Germany) that are offering incentives that have further helped to bring down solar panels for electricity cost. In fact, the last year actually saw a thirty percent drop in solar panels for electricity costs.

China and India

Countries like China are also underpinning their solar industries with huge domestic programs for solar energy which is another factor that will help in bringing down solar panels for electricity cost even further. India and the US are also joining in and coming up with gigantic solar plans that will also help to ensure that in the future that solar panels for electricity cost will come down even further.

Good performance

According to studies, over ninety percent of solar panels on the market ten years ago are still performing even after having been in service for thirty years. Though such panels continue to perform well there will still be a slight drop in their performances. According to experts, new solar panels will last for forty years and this again will help to cut the solar panels for electricity cost even further.

The main goal for solar will be to provide grid parity. In other words, when the solar panels for electricity cost comes down to a very low level, more people will opt to create their own power in their homes through use of solar panels and they will also stop buying electricity from the grid. The actual solar panels for electricity cost vary from one country to another.

Italy is a country which enjoys abundance of sunlight and the costs of grid electricity in that country are also quite high. It is expected that this country will achieve grid parity in a year's time. In fact, by the year 2020, about fifty percent of Europe will also start enjoying grid parity. Of course, the UK which suffers from high amount of cloudy weather will need to wait until the year 2030 before it gets to enjoy grid parity. However, the day is not far when all of Britain will enjoy grid parity.

The solar power industry will grow and when this happens, the solar panels for electricity cost are going to come down drastically. This is because growth normally leads to lower costs and when costs fall it means that there will be grid parity. However, it will still take considerable time before solar is able to fully match fossil fuel power.

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