Low-Cost Solar Panel Systems Sweep The Global Solar Panel Market

As we shift away from fossil fuels toward a renewable energy world, we can see not only prices falling on technologies that are involved, but we also see the price of energy itself change.  There is no doubt that solar energy is becoming a very accessible and in many cases an affordable option for people across the planet seeking to step into the renewable energy market while seeking to lower the cost of their own home or business monthly energy costs.  Solar panel energy is sought throughout the world.  The clean energy revolution is emerging, and the future looks bright as we step forward into the future of great solar panel pricing.  Although the world has witnessed some dynamic and volatility in the solar panel trade industry, prices in nations across the globe have continued to decline to all-time low prices for solar panels and their corresponding parts.  If you are interested in how the world has witnessed some diminishing costs for solar panels then read onward economist.  

The 2018 solar panel price drop could be about the same as the decrease in module prices in 2016, and would be eclipsed only by 2011’s 40 percent drop in costs, PV Magazine said. BNEF’s benchmark monocrystalline module cost was $0.37 per watt for 2017’s fourth quarter and might be just $0.24 per watt by 2018’s close. BNEF experts predict solar panel system costs will drop another 10 to 15 percent next year.

Cost Of Solar Panels Drops

In a related note, the cost of high-efficiency solar panels fell 37% in 2017. The cost decline is a result of dissolved support for China’s photovoltaic market. Since China is the largest solar market in the world, the cost breakdown could emanate. PV Magazine cited a BNEF note announcing, “Oversupply is universal.” The message prophesied a market crash initially, and developers could stop installation in the third quarter and wait for cheaper solar panel system prices and release of new quotas.

All Countries Could Use Solar

India and emerging renewable energy using countries around the world could benefit from the solar panel system price decline, according to the UNFCCC. The UNFCCC praised the International Solar Alliance (ISA), originated by India and France in 2015 to focus on a venture in large-scale solar power in developing countries. UN Climate Change Executive Secretary Patricia Espinosa said ahead of this year, “We globally agreed goals in the Paris Agreement and the Agenda for Sustainable Development cannot be achieved without your [ISA’s] effort to scale up solar power generation and support countries with great solar potential … This is our moment to deliver on the encouragement of a better future agreed in Paris."

Now that we understand there are massive savings across the globe, and right here in the United States, are you ready to jump into the solar revolution?  The next step is to find the very best solar panel system to meet your needs.  And, the soundest way to find out if it is right for you is to get an estimate, we at HahaSmart can help you get those answers immediately with the price checker tool. How much solar power you need and how much you can save on your energy bills each month.