As the cost of solar panels declines and the cost of power from traditional sources increases, consumer solar electric generation trends are going to favor homeowners installing their own solar panels on the roofs of their houses. Homeowners in the southwestern United States find that there is e a positive business case for solar power installation. Rates per KW are high for electricity. Solar power is getting cheaper and they have more days of full sunshine than most other areas in the US.
Consumer Solar Electric Generation Trends
Based on our research, the cost of generating power via solar panels has dropped 10% per year over the past 5 years. As a result, it is now near the national average of $.12 per kilowatt. In many places, the cost of power is much higher than this figure. The high cost of traditional power supports the business case to install solar power-generating panels on the roof of a home.
Over the next 25 years, there will be a significant increase in solar power generation. Solar power may never replace or even jeopardize the existence of large traditional power generation plants. They will have an impact on the industry over time and be an alternative power source.
Consumers will demand better more efficient prices. Either by installing solar panels or by the traditional players developing more efficient power generation of their own. Solar power generation will grow significantly. From an estimated .2% of the total to a much larger portion of the power industry.
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