Based from the latest data gathered by the Bloomberg New Energy Finance, the prices of the solar panel system had fallen by 57% in the past five years. And it can generate solar energy that cost about 75 pounds per megawatt hour that are almost near to the 50 pounds per megawatt hour fossil fuels.
Norwich, England -- (SBWIRE) -- 10/14/2015 -- Even without subsidy for almost 18 months, the solar panels in the UK market remains competitive. According to the National Grid, the prices of the solar panel declined constantly, this in turn makes the solar panels affordable to the public. The current cost of solar panels nowadays is about the same as the energy coming from the conventional sources. And with the changes in solar panel prices, better penetration and manufacturing – parities are now being estimated by the National Grid in the next 18 to 24 months from the other sources of generation.
The remarks of the National Grid with regards to the status of solar panels in the market is seen as a support to Prime Minister David Cameron's decision to strip the support given to renewable, which according to some solar developers , will wreck their industry. But still, many don't believe that such will happen because the cost of making and installing the solar panels units falls rapidly. Yet some still disagree with the idea of slashing the incentives for domestic solar panels by up to 87%.
However, the government sees this necessary for the reason that it will be a good help in keeping the pace with costs reduction that is delivered by renewable energy. Aside from this, this will ensure that the schemes will not breach the spending cap for the bill-payer-funded clean energy subsidies that were implemented by the Treasury.
It was noted that when the subsidies were cut in April and July, the support programs for small and large enterprise projects were canceled and had earlier exits than expected. While the small –scale renewable were no longer be locked to agreed power prices under the FIT or feed-in-tariff program that is highly abused by some companies. And this is all because of the competitiveness that the solar panel shows in the market.
Based from the latest data gathered by the Bloomberg New Energy Finance, the prices of the solar panel system had fallen by 57% in the past five years. And it can generate solar energy that cost about 75 pounds per megawatt hour that are almost near to the 50 pounds per megawatt hour fossil fuels. Although not all renewable sources will reach the grid parity compared to solar energy, where offshore wind is exorbitant due to the possibility price hike in carbon – many are still looking forward to the development of the solar plus battery charge that could make solar energy available to everyone.
But for now, the public has to depend on the continuous price decline of solar panel and make early investments to this technology. This can be done by comparing quotes from various solar panel providers and choose what gives them much benefits and savings.
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