Solar Panels Price Reduction
It usually isn’t easy to build a green house. To do this requires installing solar panels and this can get real expensive. But that’s not the case today anymore. While last year, installation of solar panels cost about $100,000, the price has strategically dropped to $77,000.
One big reason for the price drop is in the production of materials needed to make this. The Chinese has apparently already entered the market and are now producing polysilicon more efficiently.
Until recently, panel makers had been constrained by limited production of polysilicon, which goes into most types of panels. But more factories making the material have opened, as have more plants churning out the panels themselves — especially in China.
“A ton of production, mostly Chinese, has come online,†said Chris Whitman, the president of U.S. Solar Finance, which helps arrange bank financing for solar projects.
At the same time, once-roaring global demand for solar panels has slowed, particularly in Europe, the largest solar market, where photovoltaic installations are forecast to fall by 26 percent this year compared with 2008, according to Emerging Energy Research, a consulting firm. Much of that drop can be attributed to a sharp slowdown in Spain. Faced with high unemployment and an economic crisis, Spain slashed its generous subsidy for the panels last year because it was costing too much.
Read the full report here.
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