What happens when solar panel gets cheaper!

- Advertisement -

The rapid use of conventional resources has increasingly put pressure on households to utilise the benefits of solar energy but till now, those demands have been hardly met as the costs related to purchasing and installing photovoltaic equipment have been on the higher side. But it seems solar panels are more cost effective now than ever.

According to statistics compiled by the IHS Solar Polysilicon Price Index, the global price of silicon, which is a key component in PV panels that converts sunlight into a direct electrical current, last month fell to one of the lowest rates so far this year. Reports suggest that the average price of solar panels has decreased up to 75 per cent since 2007.

During October, the price for 9N silicon, one of the most pure silicon used in PV materials, reduced by 9 per cent. The price of 6N to 8N silicon, the lowest grade product that can actually be used in a PV power system, dropped by 7 per cent.
According to IHS, silicon prices could remain constant or go up slightly during December this year and through January next year. But looking at the oversupply of PV materials happening globally, this could ensure the cost of obtaining solar-grade silicon likely to remain relatively low for the foreseeable future.

- Advertisement -

“Suppliers are trimming production, inventories in the channel are continuing to be depleted and most industry players are expecting a rebound in demand in 2013,” said Glenn Gu of IHS.

Reducing silicon prices means that making solar panels will get more cost effective, which will eventually reflect on the final pricing for the end consumer, who is readily willing to buy a solar electricity system, at an affordable cost.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Exclusive

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Important Sectors

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Tech Mahindra Opens Telco Smart Analytics Lab in UK

0
Situated in Milton Keynes, the lab aims to develop data analytics solutions on Google Cloud India-based IT company, Tech Mahindra recently announced its dedicated Google...

GODI India Manufactures 3000F high power supercapacitor

0
Integration with battery packs would improve the battery life of EV, says GODI GODI India, the country's leading company to have homegrown technology to make...

Manufacturing

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Apple Making iPhone 14 In India!

0
As per the latest reports, Apple has started manufacturing iPhone 14 in India. Foxconn’s Sriperumbudur facility situated on the outskirts of Chennai is the...

Global UAV Mkt To Grow At 18.41% CAGR

0
The report 'Global UAV Market 2022-2026' lists the opportunities and challenges lying ahead for this sector A recent report released by Technavio expects the global...

Semiconductors and Display Manufacturing: Ready for Another Boost

0
Govt says that tech nodes of 45nm account for half of the total semiconductor market in India Central Cabinet, in a recent meeting, approved a...