As more investment goes into solar energy, prices are also dropping while efficiency increasing. This is good news all around and homeowners in the US are finally able to tap into this wonderful resource without having to take out their entire savings.
According to analysts at the investment bank Piper Jaffray, solar panel prices have fallen about 40 percent since the middle of last year, driven down partly by an increase in the supply of a crucial ingredient for panels: polysilicon, which is now being manufactured in great quantities and at much lower costs in China.
Europe is still the biggest market and hopefully Asia will follow soon- even if only government driven.
Here in Singapore, some retailers such as Sembawang Shopping Center have 51 solar panels on its roof to keeps the flourescent lighting in the mall lit. The solar panel system cost S$150,000 (US$103,380), and is expected to have a payback period of 20 years. That was back in 2008- it should be 30-40% cheaper to have similar installations now.
There are 4 other malls that are taking advantage of Singapore’s sunny days with the help of the government’s Clean Energy Programme Office, an inter-government agency effort to develop Singapore into a global clean energy hub. It administers the S$20 million (US$13.8 million) Solar Capability Scheme to encourage green facilities by the private sector, and a similar S$17 million (US$11.7 million) Clean Energy Research and Testbedding initiative for the public sector. 313@Somerset is one of five solar testbed projects supported by the Singapore government.