Falling Costs Make Solar More Affordable Than Ever

      One advantage result of solar panel oversupply is that it has made solar more affordable for more consumers. The cost-competition among the solar energy industry and the price of nonrenewable energy sources that are skyrocketing in price, more consumers can reap the financial gain of solar power. Current solar module prices range from about 70 to 90 cents per megawatt, less than half of the price three years ago. GTM Research estimates that this downfall will continue, with solar module prices reaching 45 cents by 2015.

The standard price of a solar panel has declined by 60 percent since the beginning of 2011. With completed cost in photovoltaic (PV) system has averaged a drop by 11 percent over the past year to $3.05/W. However, the solar market has continued to increase, this quarter’s report finds that the U.S. installed 832 megawatts in Q2 2013, which has resulted in a 15 percent market increase from the first quarter of this year. The second quarter from June-April made the PV solar power’s the second-best ever.

U.S. PV Installations, Q1 2010-Q2 2013:

Solar Stocks are Rising

Solar energy’s brand new affordability has caught consumer’s attention from around the globe. In some locations such as California, the cost of solar power has made strides towards grid parity and therefore has draw in a lot of investment for solar companies.

State Rankings

After the passage of AB 327 bill by California state legislatures it seems the future of solar energy couldn’t get any brighter. The bill will give access to the 75% of its residents unable to install clean energy on their property. The bill immediately creates the largest shared renewables program in the US and could boost California’s clean energy economy all without any state subsidies or extra costs to non-participating residents. After the approval of the bill California will continue to demonstrate great practices and commitment to living green.

   

Solar Market Excepting to Continue Success with Booming Market

With currently over 9,370 collectively solar electric systems operating in the U.S. has an enough to power over 1.5 million homes. The U.S. solar market could also see a 75% growth this year, according to GTM Research and the Solar Energy Industries Association. Perditions have been made that by the end of 2013, a solar project will have been installed, on average, every four minutes in the U.S.