According to a new research conducted by the New Energy Finance, the costs for solar energy has dropped by a whopping 50 percent in 2009. Along with that, the pre subsidy cost for other renewable energy technologies have declined by about 10 percent.
BUT here’s some not so good news – while the prices for wind turbines, solar panels, and other alternative energy equipment have dropped significantly last year and continues to do so until this year, this decline has been cancelled out by the higher financing costs…all thanks to the economic global slow down.
Facts And Figures
The prices for all of the solar photovoltaic (PV) modules have continued their downward trend even if the rate of the price decline has slowed down a bit. Thin film solar PV, by far, remains to be the low cost leader in solar energy. The projects can come as cheap as $3/W. This makes the energy products based on thin solar film 25 percent less than crystalline silicon on a levelised basis.
According to Michael Liebreich from the London based New Energy Finance – so far this year, the decline on the cost of equipment in areas like solar and wind energy has been steady. BUT this has been offset by the ever increasing cost of financing.
HOWEVER, added by Liebreich, by the end of this year, when the capital markets loosen up and when the prices of alternative energy equipment continue to decline, one can be confident that the levelised costs will decline as well – giving the prices 10 percent below than that of the previous year.
Wind And Geothermal Alternative Energy Equipment
Just like in solar alternative energy equipment, wind turbines’ costs have dropped at their lowest level ever. The decline has brought an 18 to 20 percent off of the normal price this year. HOWEVER, again, the higher costs of financing has made things harder for people wanting to take advantage of these.
That’s especially true in the offshore markets. The costs continue to rise since the projects need to move into deeper waters – inevitably leading to constructions that are extremely complex and increased capital costs.
The Bad News
Well, you have heard the good news number one – the costs of alternative energy equipments are slowly BUT surely dropping. We are looking forward to bigger price drops in the up and coming years. HOWEVER, here’s the bad news – even if they drop significantly, ordinary Joes and Janes like you and me still can’t afford it!
I mean think about it – our wiring system and power infrastructure has been built from the ground up to take advantage of fossil fuels, gas, oil, and other conventional energy sources. Switching to alternative energy sources means you need to get the necessary alternative energy AND change your home’s wiring and power system. That costs a fortune just in case you are wondering.
Not to mention the major power companies are reluctant to make that change. Aside from the fact that it costs a lot, they are making truckloads of money off of conventional energy sources.
The Good News Number 2
Here’s the good news number 2 though (or better yet, the better news) – Magniwork provides you with everything you need to know to construct a magnetic power generator that…
- Works ’round the clock
- Very easy to build
- Doesn’t cost a fortune
Not convinced?
Well, you should be! Think about it – the guys behind CNN were convinced by the creators of Magniwork. Matter of fact, they are predicting that by the year 2020, the very same technology will be adopted by major power companies.
BUT why wait when you can take advantage of it NOW?