2016 Reduction in Solar Panel Prices

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In recent years the cost of installing solar panels in order to take advantage of solar energy has begun to drop making this technology more affordable for a wider segment of the population. Solar energy has many advantages that make it an ideal way for our society to transition from being reliant upon fossil fuels to making use of renewable energy that is better for the environment. The problem that plagued the widespread implementation of solar energy in the past was the high cost of having solar panels installed.

While in the long run an investment in solar panels would pay off, it would usually take decades to actually pay off. For the average person or family this meant paying out a lot of money up front, which was often beyond their financial means. The good news is that a variety of factors have come together to help reduce these costs making solar energy a viable option for many more people.

solar cost graph via of Solar Ottawa
So why exactly has the cost of solar panels gone down?

The main reason behind this is an improvement in the materials and manufacturing process used to make them. As Ottawa Solar Power¬†owner Sean Sergio stated, “As materials for solar panels are being manufactured on a larger scale many companies are finding ways to cut costs while still keeping the quality level high. ” Sergio, an avid solar energy supporter has been selling solar panels in Ottawa for years mentioned, “In fact many new solar technologies are emerging that are lower in cost as well as more efficient and longer lasting than previous generations of solar panels.”

This means that for the consumer you can get a product that is better, longer lasting, and will have a substantially lower up front cost. While this up front cost is still high, it is far more affordable than it was in the past making a future with solar energy more attainable by all.
Another factor making solar energy more affordable are the growing number of companies that utilize a lease program for solar panels. Instead of paying a high up front cost homeowners that deal with these companies instead pay a monthly lease for their solar panels.

So while you have to make a monthly payment to a solar energy company the amount you have to pay each month on your electric bill will be much lower. In fact the combined amount you pay for electricity and for your leased solar power panels is usually much lower than your electric bill would be.
While it’s a better long term investment to actually pay for you solar panels instead of leasing them, leasing is an option that is more affordable for many people. The good news is that whether you pay for your solar panels yourself or lease them, you will save money long term while also helping to protect the environment.

Solar energy is the future, it’s a clean, endlessly renewable source of energy that is becoming more commonplace everyday. As technology and manufacturing processes continue to improve the cost of buying your own solar panels will continue to drop which will put solar energy in reach for most of the population.