Solar energy prices continue to drop

Solar energy prices continue to drop

December 17, 2012 0 By Alicia Moore

Solar Energy cost reduction

Solar energy prices decline due to advancing technology

The cost of adopting alternative energy is often so high that it discourages counties from making use of sustainable power. This has been true for the majority of the history of alternative energy, especially in the realm of solar power. In recent years, however, the cost of solar energy technologies has been dropping rapidly. Near Zero, a non-profit energy research organization, has released the results of a new survey documenting the long-term trend of the falling solar energy prices.

Survey shows that decline will continue well into the future

According to the survey, solar energy prices began to plummet in 1980. This trend has persisted over several decades. One of the contributing factors to the continued decline in solar energy prices is the fact that solar energy technologies are becoming more efficient and less expensive to produce. Affordable technologies trickle down to consumers, who have to pay less for installations and modules. Businesses have been benefiting from the advances in solar energy technology as well, finding it easier to adopt alternative energy.

Experts claim more focus must be placed on finding new materials for solar modules

The Near Zero survey drew upon information provided by key players in the solar energy business, as well as energy researchers from many universities and other organizations all over the world. According to these experts, the continued decline in solar energy prices will remain steady for the time being. For solar energy prices to continue falling, however, more focus must be turned toward researching and developing better energy systems. Finding cost effective materials with which to make solar modules is a key factor that is expected to help cut the overall cost of solar energy.

Dropping solar energy prices may make it easier for countries to adopt alternative energy

High upfront costs have keep alternative energy at bay for many years. Adoption has been sluggish in the past because of the expensive nature of technology. As this technology becomes more advanced, businesses, consumers, and governments are seeing a much friendlier financial aspect in alternative energy. With solar energy prices on the decline, sustainability may soon become a much more feasible goal for many countries.