If you think you can’t afford having your own home solar panels because of the expensive solar cost then you have to read The New York Times article published on August 26, 2009 by Kate Galbraith. Here’s the headline: More Sun for Less: Solar Panels Drop in Price. Does it mean something to you?
The cost of solar panels is known to contribute around 50% to the total electric solar system cost. With that said you can make a great saving if the price of the electric solar panels is chopped down by 40% as described by the analysts at the investment bank Piper Jaffray: “For solar shoppers these days, the price is right. Panel prices have fallen about 40 percent since the middle of last year, driven down partly by an increase in the supply of a crucial ingredient for panels”.
Many experts expect panel prices to fall further, though not by another 40 percent.
Manufacturers are already reeling from the price slump. For example, Evergreen Solar, which is based in Massachusetts, recently reported a second-quarter loss that was more than double its loss from a year earlier.
But some manufacturers say that cheaper panels could be a good thing in the long term, spurring enthusiasm among customers and expanding the market.
For solar panels buyers the fall of solar panels cost means they can get the system at a lower price or they can keep the previous budget to buy a larger solar setup. Don’t forget that the Federal and local tax incentives will only make this package looks more attractive.
Further details about the fallen solar cost can be found at the New York Times website. Just click the image above to visit the page.
The SolarCost Admin
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