Power & Energy

Better performing solar panel price dropped by 37%

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A recent report from IEA depicts that the price of the mono-crystalline solar units on the spot dropped by 37.5% within a year. The latest technology used to develop mono-crystalline solar panels is being hugely researched. Due to the advent of newer innovations, the same-size solar panel now delivers minimum 10% more power than the previous models.

The new models are only 6% pricier than the previous ones but at least 10% efficient. The reason behind the drop in the price is the advent of the higher efficiency panels. The cost has always been an issue for the homeowners but this time, the efficiency has turned out to be higher than the price making it a viable solution.

Over the years, the USA families have been craving for such solar panels as they require higher than a normal amount of power to drive their appliances. Due to the need and the new technology, the demand has risen considerably and the price reduced to a huge extent within five years.

Most of the solar panels that are being manufactured and delivered to the families are poly-crystalline solar panels. The latest trend clearly suggests that the mono-crystalline panels are the future that will not only drop the prices but also provide a better medium to tame solar energy for household purposes.

Due to the low-cost production of poly panels, the sale increased a lot despite the fact that mono panels where invented before. It took almost 7 decades to bring mono panels back as the cost of production of the panels became significantly lower.

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