Investment in materials drives down cost of solar power10th May 2012
There's good news for all of you money saving fanatics out there - and let's face it, we all are at the moment - the cost of solar power is in decline.
Cost is often a barrier to people installing solar power systems, but experts at DuPont believe prices are currently in decline and will continue on their downward slope.
What is behind this trend? Well advances in materials are having an impact as they are helping us move closer to grid parity.
'Grid what?' I hear you ask … this is the point at which the unsubsidised cost of solar electricity reaches the same level as energy generated by the grid.
Dave Miller, president of electronics and communications at DuPont, said that the global solar energy market is currently on target to achieve grid parity by 2015.
He continued: "Some areas where there is an abundance of sunlight and high grid electricity prices already have achieved grid parity.
"Advanced materials that continue to increase the efficiency and extend the lifetime of photovoltaic modules are an important factor in driving down the cost of photovoltaic electricity."
Dave called for investors in solar power systems to consider the quality of the materials used - in theory, these systems should last for generations, so their quality can really make a difference.
This downward trend in pricing has also been predicted by global management consulting firm McKinsey in recent weeks, as it believes costs will decline by as much as 40 per cent by 2014.
This can only mean good news for us consumers and should lead to a rise in people turning to solar electricity for their hiome energy needs.
If cost is a concern for you and your household at the moment then fear not, you could find yourself in a better position to make a purchase in no time at all.
Posted by Mike Peacock