How the Latest Technology Could Affect the Cost of Solar
The cost of solar has steadily decreased in recent years, relative to the energy generated. Things could get even better soon as new technologies come to market. An exciting new development could create massive efficiency improvements, generating more output from solar panels to improve the return on investment.
Here’s what you should know about the future of solar power in New York and elsewhere.
A Solar Panel Breakthrough Could Reduce the Cost of Panels
Perovskite is a man-made material that can be used to make the most efficient solar panels so far. It has been used for research panels, with scientists recently breaking the world record for efficiency using a perovskite-based panel.
However, the material is inherently unstable and breaks down quickly. So, while it can be used to generate more electricity than silicon-based panels, the durability is decreased, making it impractical.
This is likely to change soon. Researchers at the University of California, Los Angeles, recently developed a solar cell based on perovskite, which includes additional materials to slow down degradation. Augmenting the perovskite with neodymium ions slows down the degradation, ensuring that light can be converted into energy over a longer service life.
This is a major breakthrough, and it could quickly enter the mainstream as solar panel manufacturers look for alternatives to silicon-based technology. It would make solar panels more affordable to produce while maintaining the same, or increased efficiency. Total efficiency would depend on how durable the panels are made to be. At the very least, researchers could develop more affordable panels that are just as durable as the silicon-based panels in use today, without compromising the total power output.
It could take some years before manufacturers adopt the technology, but it’s encouraging to see that they will have more options, especially as natural resources become scarcer.
How Efficient are the Panels Used for New York Solar Installations?
Should you wait for more technical developments before you get your New York solar installation? The short answer is that, no, you shouldn’t wait. There’s no real benefit to doing so, because even with today’s available technology, you can get an efficient New York solar installation that generates a strong return on investment. When you can start saving right away with solar power in New York, the choice is easy.
New York residents pay more for electricity than anyone else in the contiguous United States. If you convert to solar at home, you’ll see real savings over time. Today’s panels last for an average of 25 to 30 years.
Learn About the Cost of Solar Power in New York
If you want to know more about the cost of solar power in New York, you can start with a free estimate from New York Power Solutions.
Our initial estimates are based on satellite data. If you like the numbers, then we’ll proceed with a site visit and evaluation to ensure that your home is ready for solar power in New York.
You’ll get a final quote on the cost of solar once the at-home assessment is complete. We don’t just tell you the cost of solar. We’ll also provide you with a cost/benefit analysis so that you can determine if the investment is worth it.
We provide the information. You make the choice.
New York Power Solutions also offers solar financing with no money down and an interest-free period. You can leverage expected tax credits to reduce the cost of solar. Make the switch and enjoy savings and real energy independence for your family.