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The future's bright for solar panels
01/12/09
Edited by Bob Witham. The lifetime cost of solar panels is falling at a faster pace than previously thought and using them to generate power could be as cheap as buying energy from the grid by 2020, it has been claimed.
According to the European Union's Institute for Energy, the cost of installing and owning solar panels is coming down because the devices last longer than originally estimated, the BBC reports.
Most solar panels had been predicted to last 20 years, but accelerated ageing tests using extreme heat, cold and humidity similar to those used in the car industry have shown that around 90 per cent of panels last for 30 years.
Dr Heinz Ossenbrink of the institute said panels with a lifespan of 40 years will soon be on the market.
He added that solar is expected to become "cost-competitive" with energy from the grid for around half the homes in Europe by 2020, with sunny countries such as Italy set to reach this landmark as early as next year.
To support the adoption of solar panels in the residential property sector, Dr Ossenbrink said banks should offer "mortgages" to cover their installation.
