Installing Solar Power System – Here Are Reasons Why The Cost Is Getting Cheaper
Renewable energy is one of the most exciting areas in Science, Technology, and Innovation today. Renewable energy has revealed itself as an economically viable and sustainable alternative to fossil fuels and nuclear energy. Particularly over the last decade, renewable technology has been revolutionised, resulting in significant price reductions for solar and wind energy.
If you ever considered solar as an option for your home or your business, you’ve probably been deterred by the high initial cost of installing solar energy systems. But don’t give up yet! The cost of a solar energy system is approximately 100 times cheaper today than it was in the 1970s, and this trend of decreasing costs shows no sign of slowing. Below are the reasons why Australia’s Energy Transition Is In Full Swing.
The Declining Cost Of A Solar Power System
There are several reasons why solar energy systems costs are declining. Many people are now switching to solar power because it is a renewable source of electricity that can help reduce your monthly utility bill. Even individuals who live in remote areas, where access to the conventional electricity grid is scarce, can benefit from this kind of system.
The price of solar panels has dropped dramatically over the past decade. In Australia, the massive increase in demand for solar panels and the number of solar panel installations means that we are now seeing more competition in the market and prices are coming down even further.
The rapid declines in price—most notably for solar and wind—are largely the result of a sharp fall in the costs of manufacturing and installing the technologies. The prices are falling so quickly that Australia’s transition to a renewable energy economy is in full swing. The global pandemic and extended lockdowns have not slowed down the growth of rooftop solar. More than three million solar installations have been made as of the fourth quarter of 2021, with almost half of Australian households now boasting a solar system.
More Australians Are Now Making The Switch To Solar
With the current global trend of conserving energy, the cost of installing solar power systems in Australia has been on a decline. However, for most households, it’s a difficult decision to buy a new energy system. But with certain benefits like reduced expenditure, green energy and an opportunity to get lucrative rebates available as per government schemes in place, investing in a solar power systems is by far one of the most effective home improvement solutions you will find in the market.
Sunshine In Australia
As a result of its abundance of sunshine, Australia has been able to take advantage of its natural resource and become one of the world’s leaders in solar power production. Australians have been installing solar systems on their homes for decades. As technology continues to improve, solar systems are becoming more efficient, less expensive, and more readily available.
If you are considering installing a solar power system at your home or office, Mclean Energy Solutions is your one-stop-shop for all things solar. From solar system installation and solar panel cleaning to servicing, they can do it all when it comes to working with solar technology. Give us a call at 0420 533 723 and we will organise an installation, connection to the grid, and more.
Solar energy has a long way to go before it is widely and globally adopted, but one thing that is helping it get there is the fact that the price of solar power is on the decline. The progression of renewables has been so fast and furious that it’s easy to lose track of how far we’ve come. Renewables were once seen as an expensive luxury compared to fossil fuels — now, they’re cheaper than ever, and in many cases, they’re out-competing fossil fuels for cost efficiency.
