Solar Panels cost set to crash
The cost of installing and owning solar panels will fall even faster than expected according to new research.
Tests show that 90% of existing solar panels last for 30 years, instead of the predicted 20 years.
According to the independent EU Energy Institute, this brings down the lifetime cost.
The institute says the panels are such a good long-term investment that banks should offer mortgages on them like they do on homes.
At a conference, the institute forecast that solar panels would be cost-competitive with energy from the grid for half the homes in Europe by 2020 - without a subsidy.
Basically everything (in the industry) is bound to grow still further. Growing further means less cost
Heinz Ossenbrink, EU Energy Institute
Incentive programmes for solar panels in Germany, Italy and Spain have created manufacturing volume that’s bringing down costs. Solar panel prices dropped 30% last year alone due to an increase in output and a drop in orders because of the recession.
