Glut Of Solar Panels in 2009 Could Benefit Consumers

Science & Technology (alternative energy)

Though the recession is taking its toll on financing some renewable energy projects and on share prices of renewable energy companies (many of which have fared even worse than the market as a whole); and though there still have been a number of new large solar power projects announced recently; 2009 will bring a glut of solar panels to the market. That could be good news for consumers:

Solar Panel Prices Likely to Fall
According to an exec at Suntech they expect their prices to fall by 10-15% in 2009 denominated in euro and by 25-30% in dollars.

First Solar chief executive Mike Ahern, also has noticed that in the thin-film market, that though his company hasn’t yet lowered prices, saying in a bit of self promotion that their panels are already priced below market, other thin film companies are cutting prices.

What’s more, according to iSuppli, by 2010 the supply of silicon will likely outstrip demand further driving down prices.

Now, hopefully the income of prospective purchasers of solar panels won’t fall proportionally even more than the price of the technology and people will be able to take advantage of this situation.

via: StarTribune.com and Reuters

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