Solar power is becoming more affordable every year

Think solar energy’s too expensive to install? Think again! In a recent report released by the independent consulting firm Ernst & Young, prices of photovoltaic solar panels are falling rapidly… so rapidly, in fact, that by 2013 they are expected to cost only half what they did in 2009.

The cost of solar panels is generally described in terms of the price of each watt of peak capacity. In 2009, the cost per watt was $2.00; it is now at $1.50 per watt. With just a little simple math, it’s evident that in less than two years it will fall to a mere $1.00 per watt. This finding is significant because, as the cost of fossil fuels continues to rise with no end in sight, solar power has the potential to become extremely cost-competitive, regardless of whether or not the government subsidizes its use.
In addition to panels becoming more affordable, the use of solar energy provides a number of benefits for both homeowners and businesses, not the least of which include rebates, tax incentives, and lower utility costs over the long run. Solar energy is a renewable, sustainable form of energy that can help you reduce emissions and with them, your carbon footprint. As costs continue to fall, its widespread use is sure to grow.