The cost of solar power has dropped dramatically in recent years due, in part, to a reduction in the cost of solar panels. Increased production has led to a decrease in the panel price, in fact, the price is now forty times lower than it was in the 1980's. We are certainly the lucky country when it comes to solar. So much available sunshine, plus currently Australian consumers can obtain solar power systems for less than those in the UK, the US or Japan.
Improved manufacturing practices, increases in production and the lowering of silicon prices has all contributed to making solar power systems more affordable in Australia today. Silicon prices are around $20 per kg instead of $300, thanks to specific solar grade silicon production facilities.
Solar panel advancements
One of the next advancements in solar panel technology looks to be an increase in the energy conversion of the panel. Currently, most solar panels only convert between 16 and 21%, recent research and advancements have some test panels up to 40% efficiency. The more energy each panel can convert from the sun the fewer panels needed to produce your household's power needs. Solar panel companies are working to increase the panel output and consequently reduce installation costs, as well as shipping and storage.
This trend in cost reduction can only continue as more Australian homes and businesses install solar power systems, and the world in general adapts more renewable energy practices.
Wondering how a solar power system would go in your area? Check out the Australian PV Institute's - Solar PV Maps and Tools at pv-map.apvi.org.au