Reductions in solar panel prices and important grants such as feed in tariffs help to drive the solar market and lower the installation cost of solar panels. Furthermore capital availability improves and enables more people to take advantage of these financial incentives. Prices are declining and installations of solar panels cost less and are becoming more affordable.
Solar Panels Cost Less When Financial Grants Are Offered
Solar Panels cost less in countries where financial grants support solar installations. Most European countries offer grants for grid-connected photovoltaic systems. These countries have higher installation rates than countries without any grants. In the United Kingdom various government funded programmes for solar installations are available. Experts say that over time, the cost of solar panels will continue to fall and grants will become increasingly unnecessary.
Solar Panels Cost Less When More Modules Are Installed
When several modules are installed, solar panels cost less. The bigger a solar array, the cheaper the individual solar panel is. The cost of solar panels is lowest for large quantity buyers who install facilities that produce more than 10 MWp annually. Solar panels cost more when only small quantities are installed. Those who install solar panels which produce an output of less than 1 MWp annually have to pay the highest price per unit.