Cheaper And Better Solar Panels Are Coming To Lower Your Bills

Isn't it cool when things get cheaper?  I agree.  To keep up with my insatiable desire for new music, I used to go to the record shop at least 3 times a month.  The cost of a new album or cd would hover between 10-15$, and that would end up costing me 30-50$ a month for new music. Now, there is the internet, and with that, Spotify.  For around 10$ a month, I can listen to an unlimited amount of music by nearly every artist. This cost is two-fold joyful for me.  First, I'm saving money monthly and am more substantially entertained, and secondly, I don't have to pay my hard earned money to support the lifestyle of musicians, after all, it probably took them 5 seconds to write and record all those songs.  Get a job. Solar panel prices have also declined over that last 30-40 years for the homeowner wishing to harness the power of the sun.    

Price Per kWh Of Solar Keeps Dropping

Due to the remarkable decrease in the price per kWh of solar PV panels themselves, the affordability of solar energy systems today versus roughly a decade ago has been widely demonstrated. In the mid-70’s, the price of a solar panel surpassed $100 per watt. Here we are, 30 years later, and that cost is now beneath $0.40 per watt.

These savings we experience have emerged in the solar industry as it has profited from supply side curve effects, like advancements in technology and economies of measure. The supply-side experience curve effect explains the dynamic that provokes the price of a good to decrease when the combined market volume of that good increases.  So, the more available the product, the cheaper it becomes. In the case of solar panels, the ability and efficiency in the supply side have made it much easier for the average consumer to buy solar panels.   

Solar Panel Tech And Price

In coordination with improvements in solar panel tech, there is also more competition.  When you have more companies working on getting supplies to customers, that competition of market will also drive down prices for the demand side of the solar panel market.  This reasoning is why we are experiencing record low costs of solar panels.  

There are many kinds of emerging solar panel technologies like perovskite cells, solar thermophotovoltaic devices, and quantum dot solar cells, coming on strong to change the market even more.  The great thing about solar is that its source will never cease in its extractability.  The sun will shine for the next 5 billion years.  In this time frame, we can expect prices to continue to fall.  Perhaps sometime in the future, we may even see the cost of solar fall to an amount where every human can use renewable energy solely to power the world.  Let's hope that isn't in 5 billion years.  

If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years.

For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.