Solar power now more affordable than ever, say experts
With the recent spikes in oil prices, people now more than ever are seeking alternative energy sources. With demand for solar panels at an all-time high, China’s factories have been producing them in droves, driving them down in price. Prices for solar panels have fallen almost 50% since the start of 2011, just a little over a year ago. That is some amazing savings.
This means that, before 2011, it would’ve cost the average homeowner almost 20 years to pay off his solar panels. Now? It’s paid off in as little as 6 years. Free, abundant energy after just a few years? Sign me up!
“It’s a win-win if you get into solar … so long as the price of oil is above US$100,” said Curtis Deenah, a technical information officer at the Scientific Research Council. “It’s a matter of market conditions; You never know what’s going to happen there.”
I fully believe peak oil will be here sooner or later… We need more energy than ever to run this modern world, supporting billions more people than it was just a century ago. Oil supply simply will not be able to keep up with demand and I foresee oil topping $200 a barrel in a decade.