• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 8 hours Wind droughts
  • 4 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 day Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 2 days Oil Prices Fall After Fed Raises Rates
  • 11 days How Far Have We Really Gotten With Alternative Energy
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 1 day 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 9 days The Federal Reserve and Money...Aspects which are not widely known
Energy Digital

Energy Digital

Energy Digital is a leading digital media source of news and content for C-level executives focused on business and all aspects of managing the environment.…

More Info

Premium Content

Falling Silicon Prices Making Solar Panels Competitive with Fossil Fuels

Thanks to recent advances in technology and a growing demand for renewable energy, solar power is starting to become a mainstream, commercial reality. According to the Associated Press (AP), solar power is expected to double this year in addition to doubling last year.

While more solar energy projects are planned over the next year than any other power source, the industry remains relatively small. Held back by high upfront costs associated with solar panel installations, the new drop in the cost of equipment is about to change the game. The AP reports that solar panel prices have plunged by two-thirds in the last three years, which has made it easier for installers to market the economic benefits of solar energy in addition to the environmental ones.

Across the U.S., solar power installations grew by 102 percent from 2009-2012 alone, and are expected to climb monumentally over the next decade. "Every manufacturer globally is looking around for the next major growth market, and the U.S. is the first one everyone points to," Shayle Kann, managing director for solar research at GTM Research, told the AP.

Due to the decline in costs of polycrystaline silicon, the main material used to build solar panels, in addition to an increase in production, solar energy is becoming affordable. In response to shrinking subsidies, Germany's biggest solar market experienced a recent sharp drop in demand, further bringing down prices with a surplus of solar panels.

The drop in material costs will take some of the burden off governments to provide subsidies for solar installation projects, but tax breaks and other subsidies from federal and state governments will still be an important component in making solar affordable. When the federal solar subsidy shrinks in 2016, proponents claim that solar panels will become cheap enough to make solar energy competitive with fossil fuels.

By. Carin Hall of Energy Digital


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News