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World’s Prices Of The Solar Market

Adrienne SorensenOctober 9, 2018 963 0

World’s Prices Of The Solar Market

The cost for renewable energy systems has been steadily on a downward trend. From it's inception to today, one thing can be noticed with even the least discerning eye; the price of purchasing and installing panels continues to fall.


When contemplating this downward pricing trend and your commitment to buying today, realize that it could take as little as 14 years for a panel system to pay for itself, if you make maximum use of your clean energy electricity. But the future of the feed-in tariff, which pays panel owners for the electricity they create, is uncertain.

 

These market disruptions can pass alterations onto individual consumers directly. In the case of your personal renewable energy choices and prices, one must take a macro and micro-economic view of the market to make an informed purchase.


Clean Energy Subsidies

Based on the savings you might experience on your energy bills, and without subsidies sometimes available, it could take between 29 and 70 years for a solar PV system to pay for itself. You’ll pay for the system faster if you’re at home to use electricity as it’s created. Another way to manipulate your cost to profit potential is to couple your panels with a home battery.

 

The following sections will help you find out how much you should foresee to pay for panels, how the feed-in tariff currently works, and of course, the potential of renewable energy storage. Based on a well-known energy news outlet's audit and survey of panel owners, it has been revealed that the best panel brands are within reach for most consumers costs expectations.

 

The average price paid for panels was $12,753, according to our survey of those who had them installers surveyed. Some panel owners spent more than $17030, while others say theirs cost less than $3,930. So now you know the prices, let's ponder how much you should pay and how it is dependent on the size of system you’re installing.

 

The large majority (95%) of those we examined with solar panels get the feed-in tariff. The feed-in tariff (FIT) is a cash payment to UK households that contribute their renewable electricity. Panels and wind turbines are both eligible. The UK administration plans to close the FIT scheme to new applicants from April 2019, according to its consultation published yesterday.

 

The only exception is for links which are commissioned and have a full MCS certificate issued before 31 March 2019, for example, new-build homes. These would have until 31 January 2020 to apply to take the feed-in tariff. The final specifications will be published after September 2019. When the FIT plan originated in April 2010, its rates were generous.

 

However, the government has since cut rates various times to decrease prices. From January 2016, FIT rates for new installations have been cut every three months. There are also caps on the number of installations which can receive the payments. The gross amount of panels installed has diminished.


Market Shifts

We have witnessed market shifts here at home in the United States as well, and it has undoubtedly demonstrated how government subsidy and tariff can influence the price of panels. This concept shows us how ready the U.S. solar market is to accommodate your clean energy dreams. There is no better time to jump into the solar revolution.

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