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The Cost Of Solar Panels Is Dropping

By Joseph Dungler

The cost of solar panels will become more affordable in the foreseeable future. This is due partly because of new research found that extends the life of a solar panel. Once expected only to last 20 years, new results found that the true life expectancy of solar panels is 30 years. This will encourage more consumers to choose this kind of renewable energy as an alternative to traditional electricity grids.

Environmentalists as well as policy makers are encouraging financial institutions to make available to homeowners the finances available to purchase and install solar panels because they are very cost efficient and will be able to repay for themselves with less energy consumption.

Some governments across Europe have been offering incentive programs for homeowners to install solar panels onto their homes which have brought down the costs of solar panels even further. China has also been offering domestic incentive plans for their citizens as well. The US and India have similar plans in the pipelines for solar panels, which will increase the demand even further pulling prices down as well.

This type of renewable energy usually pays for itself, as mentioned above, because the main costs are actually buying the panels and installation. After that, you do not have to pay for your energy source, unlike regular electricity.

One major goal set out by the renewable energy industry in the solar field is to gain as much ground on grid generated power as possible. There are some very enthusiastic goals set out by the industry, especially in Europe. These include making getting your energy from solar power as cheap as it would be to buy it off of a grid. Estimates are quoting that half of Europe should be using solar energy as opposed to grid power by 2020.

Around the globe the demand for renewable energy is growing. More and more citizens of the world are becoming more conscience of the effects of our actions on the environment, increasing the demand for green energy. This demand will cut the cost of solar panels even further.

You can save more money with a DIY solar panel and then install your own residential solar panel.

categories: environment,home,technology,home improvement,reference,education,energy efficiency,energy,solar energy,green living

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Article Citation
MLA Style Citation:
Dungler, Joseph "The Cost Of Solar Panels Is Dropping." The Cost Of Solar Panels Is Dropping. 28 Jan. 2010. uberarticles.com. 23 Aug 2014 <http://uberarticles.com/environment/the-cost-of-solar-panels-is-declining/>.

APA Style Citation:
Dungler, J (2010, January 28). The Cost Of Solar Panels Is Dropping. Retrieved August 23, 2014, from http://uberarticles.com/environment/the-cost-of-solar-panels-is-declining/

Chicago Style Citation:
Dungler, Joseph "The Cost Of Solar Panels Is Dropping" uberarticles.com. http://uberarticles.com/environment/the-cost-of-solar-panels-is-declining/


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