Solar Panel Prices Dropping as Inventories Rise
A recent article in the Wall Street Journal describes the falling solar panel prices and the reasons for this exciting development. If you have considered installing solar panels on your home, there has never been a better time to do so. In just the past year, prices have fallen at least 25% in many areas and it doesn’t show any sign of slowing down soon.
Inventories Rise and Demand Falls
Demand has fallen over the past year due to the current economic woes. Just as almost every other industry has seen falling sales, the solar energy sector has as well. The good news? You can now get a solar energy system for a average sized home for about $15,750. This includes the 30% rebate offered by the federal government. The same system two years ago would have cost over $30,000 without the recent price drop and the rebates!
Since sales are declining, inventories are rising. More and more manufacturers are dropping their solar panel prices in hopes of improving overall sales. If you have looked at this alternative energy source in the past and decided it was too expensive, then you may want to take a second look now!
Converting to Solar Power
There are several things to consider before converting to solar power. Most homeowners are quite satisfied if their solar panels can reduce their electricity costs by 40-50%. However, others want to go completely off the grid. Take a look at your current electric bill and see how many kilowatts you used last month. The typical solar panel system will provide 4 to 5 kilowatts of power each day, which is usually enough to power your home for several hours. Of course, the night time is when the solar panels won’t work. This is also the time when most homes use the least energy.
How Long Do Solar Panels Last
Today’s solar panels prices include a warranty and in most cases, it’s a 25 year warranty. That speaks volumes about the durability of these systems. It also means that while you may pay several thousand dollars for your solar panels now, they will pay for themselves long before the warranty runs out. This is a great investment, no matter which way you look at it.
Finding the Best Solar Panel Prices
Start your search online. There are several different types of solar panels, so you’ll need to do a little research to see which type is best for your home. Many solar companies have websites full of information on the different materials, life expectancy, and pricing. However, you’ll also need to remember that installation costs can be quite high. It’s best to get a written estimate from several companies to see which ones offer the most savings.
A Few Final Thoughts
Solar energy is one of the cleanest forms of alternative energy available today. By harnessing the sun’s power, you can help reduce the use of fossil fuels, which means less waste and pollution in our world. This means that future generations will have a cleaner, healthier environment in which to live. The bonus right now though, is the reduced solar panel prices around the globe!
Solar Panel Prices Tip #1
You can build a small solar panel that can operate a small shop for just a few hundred dollars. This is a great way to see the potential savings and it can all be done over the course of a weekend.
Solar Panel Prices Tip #2
There are several websites that offer used solar panels for sale. However, over time, the efficiency of a solar panel will decrease. Make sure you are familiar with the common problems of used solar panels so you don’t waste your money on ones that don’t work correctly or efficiently.
Solar Panel Prices Tip #3
There are reports of scam artists targeting homeowners who are interested in solar power. Make sure you do a little research on whichever company you use to avoid being taken for a ride.