During the last decade, we have seen the global price of solar panels drop at a phenomenal rate. According to Bloomberg in it’s piece ‘Solar and Wind Power So Cheap They’re Outgrowing Subsidies’ the price of panels in 2019 was 85% lower than in 2010. The reduction in price is one of the main drivers behind the spectacular uptake of solar installs in residential, commercial, and utility scale installations.
Other drivers include:
- government incentives
- a growing concern about climate change
- the promotion of renewable energy solutions
- significant improvement in panel efficiency
- superb development in panel aesthetics
- the extension of product warranties
Australia is now estimated to have one of the highest proportion of households with solar systems. As our electricity needs continue to grow, solar reduces the demand for fossil fuels and saves us money. It has enabled more people to be less reliant on the utility grid and keep the lights on during blackouts. Renewables like this encourage sustainability and a greater awareness of energy consumption.
We are seeing an increase in advertising of “low cost” and “almost free” residential solar installations. This has contributed to what has become known in the industry as the infamous “race to the bottom”— which brings us to the important question: where is the “bottom”?
Making solar panels has never been cheaper
Since the price of solar power is still dropping, delaying the purchase of it may seem logical for some potential buyers…until now. Recently, there has been a significant increase in price of silicon, glass, aluminium, silver, and copper (the main components of solar panels).
While labour costs are down due to automation, solar panels still need the above-mentioned materials to function properly. Therefore, this idea that you will be able to get a cheaper installation in the future may just be wishful thinking according to Renew Economy.
Plus, government incentives are already set to lower next year, which could also contribute to the increase in price of solar panels. So, for anyone considering a solar installation, now is the time to reap the fruits of the industry’s success.
There has never been, and may very well never be, a better time to install solar panels in Australia – get a quote today!.
Which solar panels would you rather buy: the cheapest panels that may incur the added cost of replacement after 10 years? or, the highest quality panels that look good, perform the best, and last more than 25 years?
Solaria’s PowerXT® high-performance, high-density solar panel is one of the most powerful, energy efficient and visually attractive panels on the market today. Founded in 2000 in the USA, Solaria was one of the early innovators of next generation “shingled” solar panels, an emerging solar technology in which solar cells are cut, overlapped (shingled), and more densely packed into a panel. Shingling creates a substantially high-power, high-efficiency panel than conventional solar panels. With the confidence of a 25-year comprehensive product and performance warranty and superior shading tolerance, one would be hard pressed to find a better panel on the market. Fortunately for us, Solaria’s PowerXT® panels are now available to installers in Australia through our distributors Greentech and AC Solar Warehouse.
NOW is the time for solar with Solaria
