Over the past year, the price of solar power has declined by around 20% (from USD22.07 per MW hour to USD15.82 per
MW hour). This is mainly thanks to a greater adoption of solar power across all sectors and an increase in solar
panel installations. As a result of this continued pricing pressure and the growing popularity of rooftop solar, the
price of power from a solar-only system fell from USD22.07/MW hour to USD15.82/MW hour. This equates to a saving of
approximately 28%. But just how much could a solar-only system provide for your home? Let’s take a quick look at the
key stats related to solar power and solar panels in 2016.
Solar Panels Installed Worldwide
At the end of 2015, there were more than 191 million solar panels installed worldwide. This is an increase of 34%
from the year before. This equates to an average of 1.8 solar panels per person on the planet. This trend is set to
continue in 2016, with more than 200 million solar panels being installed across the globe. This is an increase of 41%
compared to the 2015 figure and is mainly down to the growing popularity of rooftop solar and its various advantages.
The Rise Of Rooftop Solar
The use of solar power and solar panels is certainly not a new concept; however, it wasn’t until recently that
this form of energy started to see a widespread adoption in homes and businesses alike. One of the main reasons for
this is the continued fall in the price of solar power and solar panels due to a greater interest in renewable energy
and the desire to cut costs. In 2015 alone, there were around 101 million rooftop solar installations, which is an
increase of 69% compared to 2014. This is mainly due to the falling price of solar power and rooftop solar’s
versatility in generating clean, green electricity. As a result of this increased interest in rooftop solar, more
and more people are now installing these systems on their homes and businesses. According to the National
Solar Council, almost 500,000 rooftop solar installations were installed every month in the United States in 2015.
This is mainly due to the many benefits that rooftop solar provides.
Rooftop Solar Offers Many Advantages
A rooftop solar installation provides many advantages to homes and businesses. These include clean electricity, which
can be directly generated using the sun’s energy; reducing your reliance on the grid; and being able to sell any excess
energy back to the grid. All of these factors contribute to the growing worldwide popularity of rooftop solar.
The reduced electricity costs alone are enough to make most people consider a rooftop solar system. However,
these savings can be increased with solar panel systems that generate energy credits, which can be sold to utility
companies to further reduce your energy bills.
Solar Tariff Policy
One of the key issues hampering the widespread adoption of solar power and solar panels in homes and businesses
is the variability of the energy price. This makes it difficult to predict whether or not investing in solar
power will be cost-effective for a household or business. This is why many countries have adopted a solar tariff policy,
which sets a minimum rate for solar electricity produced by large solar power plants. This rate is then sold to
customers at a discounted rate. The use of solar tariff policies allows people to benefit from the low prices of solar
energy while not having to worry about whether or not investing in solar power is cost-effective. Several countries
have now adopted or are in the process of adopting solar tariff policies, including Australia, Bulgaria, and New
Zealand. When these countries switch over to a full-scale solar system, they will save a significant amount of money
on their utility bills simply by having solar power.
Adoption Of Hybrid Systems
While solar power and solar panels offer many advantages to homes and businesses, they also have their
disadvantages. One of the main disadvantages of solar power is its variability. As previously stated, the price of
solar power can fluctuate, which means it can be more difficult to predict whether or not investing in solar
power makes financial sense for a household or business.
To counter this issue, many solar power companies now offer hybrid systems, which are combinations of
solar power and conventional power sources. A hybrid system has the potential to reduce the variability of the price
of solar power and to make it more cost-effective for households and businesses to invest in solar energy. Examples of
hybrid systems include the SolarEdge system, which combines residential solar power with battery storage and
offers customers energy savings and reliability; or the SMA Sunny Solar Power system, which can be added onto a
business’s existing electricity supply to provide an inexpensive and reliable alternative to traditional energy.
Rates Are Falling Worldwide
Another issue hindering the widespread adoption of solar power and solar panels in homes and businesses is the
high prices that are being charged for electricity. Over the past year, the price of solar power has greatly
fluctuated, which makes it difficult for households and businesses to know whether or not it is a good investment
to purchase a solar system. But one thing is for sure – the price of solar power will continue to decline as more and
more people decide to invest in solar power and solar panels.
This is why it is so important for households and businesses to take the time to do their research and find out
whether or not investing in solar power is right for them. Doing this will help them make the right decision and
ensure they are getting the best possible price for their money. Before making any kind of investment, both
individuals and businesses should do their research and find out the best possible pricing for their personal
circumstances.
There are also a number of organizations that provide information on solar power and solar
panels, including the Solar Foundation, the Solar Energy Industries Association, and the European Photovoltaic
Industry Association. With so much uncertainty surrounding the cost of solar power, it is imperative for
individuals and businesses to do their research before making any kind of investment. This will help ensure they are
getting the best price possible for their money and will allow them to make the right decision for their
individual circumstances.
The Demand For Rooftop Solar In China
If you are interested in making the transition to renewable energy sources, China is the place to be. This year,
over 50 million rooftop solar installations are expected to be installed across the country, which represents an
increase of 69% compared to the previous year. This is mainly because China is a world leader in the adoption of
solar power and is well-positioned to dominate the renewables market.
As China continues to lead the world in terms of rooftop solar installations, more and more people are
wondering how they can get involved. To make the transition to renewable energy sources, many are choosing to
install rooftop solar panels on their homes and businesses. Doing this not only reduces their energy bills but also
gives them peace of mind in knowing their energy is being generated sustainably.
Overall, the cost of installing a rooftop solar system is around USD15,000 and this includes everything from the
solar panel hardware to the installation and connection to the electrical grid. On average, homeowners and
businesses can expect to recoup their investment in around three to four years’ time. This is mainly due to the
growing popularity of rooftop solar and its various advantages.