How are solar panel prices expected to change in the near future?
In general, we expect solar prices to decline starting in late 2009 or 2010 (and note that incentive amounts are designed to decrease in conjunction with this.) The problem lies with the constrained supply of purified silicon, which is the raw material required for manufacturing the majority of solar PV cells. Starting in early 2005, the rapid growth of the PV and semiconductor industries began to outpace the global capacity to refine silicon, leading to the first price increases in the PV industry in decades. Solar panel prices increased by 15-20% from 2005-2007 and then leveled off in 2008. The silicon shortage is expected to end in late 2009, but this will depend on how quickly demand continues to grow. Please contact us for further details and to learn the latest news about solar panel supply, demand, and pricing trends.
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