Reasons why residential solar electricity costs are lower

Are solar energy costs going down?

Over the last four decades, the costs of solar energy products — in particular, solar photovoltaic modules — have dropped by 99%. That is quite a dramatic drop, and it’s even more dramatic to know that the costs we have right now will continue to fall in the years to come.

Are solar panels getting cheaper?

Thanks to increased demand and more developmental resource allocation, the materials used to build solar panels are getting cheaper: in three years, select module costs dropped about 60%. Inverter prices are also dropping, though at a slightly lower rate.

Is solar energy expensive?

One proven way to help the environment is for us to make use of renewable energy sources, particularly solar energy. But even though there’s already that solution laid in front of us, somehow not everyone is still engaged with it. And the primary thing that holds everyone back is the belief that solar energy is expensive. I.

Can solar power save you money?

Solar electricity is a clean, renewable energy source. A typical home solar panel system could save around one tonne of carbon per year, depending on where you live in the UK. That’s the equivalent of driving 3,600 miles, or from London to Bristol 30 times. Export the electricity you can’t use yourself and get paid for it.

Can solar energy help save the environment?

With our world suffering from an environmental crisis, everyone would naturally want to find a way to help save it somehow. One proven way to help the environment is for us to make use of renewable energy sources, particularly solar energy.

Are inverter prices dropping?

Inverter prices are also dropping, though at a slightly lower rate. Those lower costs are also paired with increased efficiency, further increasing the overall value of solar. Federal and state tax credits have offset pricey solar costs for individuals and businesses.