Why it is a good time to go solar now? depends on SEIA that Solar power became the most New electric generating source as 53% in 2023, and the cost from $6.65/W to $3.40/W in United-States, in the last couple years, solar industry increased such quickly that caused everybody drop of jaw, but today, instead of talking about these ‘solar news’ that already water under the bridge, I prefer to talking about some thing in different view
What are the reasons for the significant growth of the solar industry?
- Clean energy goals
- Expensive Utility
- Geopolitical Affecting
- Energy Crisis
- High ROI rate
- ETC
Of course, all of them is a catalyst to solar; But in my view, the deep reason for solar industry is the magic of China which push the value to every end-users, that cut of 90% cost compare to decade ago, supplying approximately 80% of the world’s lithium-ion batteries
but the trends of solar will still like this?
Possible not, the cheapest price came from the factors:
Unhealthy competition
During last couple years, enormous inverstor head to solar, the battle of solar industry escalated, they have had to give up profit for survival, and stop for production or even some solar companies going to bankruptcy, later will be more
Raw material of solar decreased
The main components of Solar kit are decreased, e.g. the raw-material of lithium is drop to the lowest position by far, yes, the lowest
Depends on the volatility of the market and Calculation by the experience, the things will be change in the short future.
It is the best time to go solar now, storage and make profit from it