Is it really that simple? Over the last year, the price of a solar panel at the factory gate has come down by nearly 50%. From a US$4.20 cents per watt to under $2 and ‘still profitable’ is the finding from UK’s New Energy Finance company.
This positive news is however complicated by the market and global financial crisis. None the less, only a few years ago people installing solar electric power on their houses were calculating 20 to 25 year payback periods. For some the good news, according to the Boston Business Journal, is this payback is now only 5 years.
Picture: Solar power at the same cost as UK grid power by 2013