Solar Energy Cost goes Down
A recent study by the US, Lawrence Berkeley Nation Lab on the cost of solar energy installations has dropped by over 30% in the years 1998 to 2008. The price per watt was just over US$12 in 1998 and has decreased to under US$8 by last year.
The study covers all types and sizes of photovoltaic solar generation and indicated a wide overall difference for large and small scale systems. For under 2 Kilowatt the price was US$9.2 per watt and for larger systems over 500 Kilowatt this reduced to and average of US$6.5 per watt.
Rooftop Solar Panel
The solar generating capacity has show dramatic increases from under 0.2 megawatt to over 800 megawatt in 2008. The price drop will no doubt continue for the years to come but this will also see a reduction in incentives as the industry becomes mature and self sustaining.
Over the Atlantic in Germany the market is already maturing and there an expected price drop of 10% in the next year.
This raises a dilemma for those wishing to install solar energy for the purpose of saving costs. Should you wait until next year when the price has gone down or should you take the plunge now. Incentives and rebates will not last forever and are already being reduced in some areas. Each year you delay means you are paying more than you need for your electrical power use.
For those who live in locations that are not grid connected then they choice is already made. Installing solar energy has never been cheaper than it is now and there cannot be may ways that are clean and friendly to the environment that also let you enjoy the benefits of electrical power.
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