Ten years ago, no one would have imagined how we’ve come a long way with solar energy. Those times were tough. Solar panels were expensive, and installing a solar system in your home would be a luxury only wealthy environmentally conscious individuals could afford.
Fast track the clock a decade later and a more positive picture has emerged. From a few thousand households with solar systems to about 1.5 million today in Australia, it seems there’s no turning back.
So how did solar technology arrive at this stage of stability? Here are the answers:
More Affordable Solar Panels
Who would have thought the price of solar panels has tumbled many times in just a matter of years? Blame it on China, or rather thank them for creating a more competitive market that forced manufacturers from other parts of the world to lower their prices too. China’s subsidized loans, sprouting factories and cheap labor made it possible to manufacture solar panels at unprecedentedly low costs.
Since 2010, the global price of solar panels has dropped by about 29%, partly because of China’s entry into the solar energy market. And for homeowners and business owners, this is just good news.
Tesla’s Unveiling of the Powerwall
Just when the price rollback of solar PV panel prices pleasantly surprises us, along comes Tesla’s unveiling of the Powerwall. This energy storage device promises about 92% energy efficiency. The price of the 7kWh battery itself costs $3,500 US, but overall costs could max at $7,200 US.
This may seem expensive at first glance, but given the output and the benefits you get in the long run, investing in this advanced device is practically a smart choice. Pair the Powerwall with the now affordable solar panels and you get a powerhouse of highly efficient solar system for your home or business.
Increasingly Competitive Market
At present, there are about 4,500 solar panel installers in Australia, and the market just keeps getting more competitive. With such growing numbers, we’d expect solar power installers to offer more attractive packages. True enough, your choices, as a consumer, have widened. And you now have the freedom to explore more options.
Proper caution must be done though, as some unlicensed solar installers might offer you very attractive deals but suddenly disappear when problems arise because of possibly substandard solar hardware. Choose only licensed experts to do the job for you.
There is no turning back. The future of solar energy is here. And switching to such an increasingly affordable source of renewable energy has become an easier thing to do. Not only will you enjoy the financial returns of solar energy, but also take pride in reducing your carbon footprint. Call your solar power installer to make that change now.