It has been discussed that solar power is becoming more popular than ever, even in spite of the recession. Now new research is pointing to the possibility of solar energy becoming even more affordable, making it an even more popular form of alternative energy.
A study performed by the European Union Energy Institute has determined that the cost of owning and installing solar panels will decrease. The researchers announced their findings at a recent conference. According to the team of researchers, solar energy should be competitive in the face of conventional electricity in Europe by the year 2020.
Part of the reason solar panels are becoming more cost effective is due to countries having incentive programs, which have increased manufacturing. In addition, China’s increased involvement in the industry has further decreased the prices. In the last year, costs have decreased 30 percent.
However, the research that the EU Energy Institute conducted involved the longevity of solar panels on the market. The laboratory tested various solar panels in order to determine how long they will last. Currently, the predicted longevity of solar panels is twenty years.
The laboratory exposed the solar panels to conditions they would be exposed to throughout their lifetime, except at an accelerated rate. The researchers exposed solar panels to the extremes of humidity, cold and heat. The laboratory used similar tactics employed by car manufacturers.
The EU Energy Institute found that approximately 90 percent of all the panels which were on the market 10 years ago actually perform more than 30 years, not the 20 years previously thought. In addition, the laboratory has indicated that the newer panels coming onto the market will last at least 40 years.
Due to the decreasing costs of solar panels, experts are predicting that in Europe solar energy will match the cost of conventional electricity by the year 2020 in some countries. About half of Europe is expected to match the cost by 2020, the rest by 2030. Countries which have higher costs of electricity, such as Italy, are expected to reach it quicker than others.
