The International Energy Agency (IEA) has reported that solar power is the cheapest source of electricity in history in some parts of the world, thanks to policies encouraging renewable energy growth.
Although sunshine is free, the technology needed to turn it into usable electricity can be expensive. More than 130 countries have policies that lower the cost of building new solar systems. As prices continue to fall, solar is expected to dominate more of the market each year encouraged by efforts throughout the world to tackle climate change.
As solar panels have dropped in price by as much as 70% over the past decade, they are now very affordable. In most countries, it’s cheaper to build solar farms than new coal- or gas-fired power plants. As solar tech continues to improve, its costs continue to drive down. The dramatic reduction in the cost of photovoltaic (PV) cells by 99% over the past 40 years has also helped the rapid decline in the cost. This decline in cost shows no sign of slowing down.
Improved production processes have greatly cut the number of defective cells produced, improving effectiveness and reducing production waste. This results in more affordable and energy-productive solar modules. Fewer panels are needed to power homes and businesses as they become more efficient and durable. Inverters and battery storage systems bring even more savings.
Solar power continues to grow at record-setting speeds to meet increasing consumer demands. Installing solar panels in your home is a great way to be prepared for the future. Maintenance is minimal and returns are high. At Sunshine City Solar we'll be there with our customers from the very beginning through the entire lifetime of their system.
So why wait? Schedule your virtual appointment today. Click here to get started!