This article in Time magazine provides a somewhat scattershot, limited view of what is happening in today’s solar panel market. There is no mention of industry leader Sunpower (NASDAQ:SPWRA), and the article mistakenly discusses the inappropriate focus on ‘grid-parity.”
The article fails to relate the declining solar panel prices to the residential homeowner and small business markets for solar. These consumers benefit from much lower solar panel prices.
The fact is that there has never been a better time to install solar panels and you’ll enjoy a $0 or very low power bill for the 25 to 30 year life of the system. For example, if you spend $200 per month for electricity with a utility, then you will spend $81,979 over 25 years, including a low annual price inflation rate of 2.5%. No matter how you calculate it, you will save money with a $5,000 to $25,000 solar panel system. Forget the confusing and distracting cost per kilo-watt (kW) comparisons. Remember, you can pay the utility for 25 years, with annual price increases, or you can pay a lot less for solar power. You’ll also get some great tax credits and cash rebates, and you will increase the value of your home.