Solar power is the renewable energy that we've all known about for years, but the price is what has kept most of us at bay when thinking about whether or not to buy.
But SolarCity, the clean energy company, announced that it's about to mass-produce the world's most efficient and affordable solar panel. This thing might just make solar panels worth it.
Word from SolarCity is that a new panel manufacturing plant is being built right now just outside of Buffalo, New York. This plant would cut costs and make solar energy an option of thousands of homes across the country.
According to 2009 data, solar panels usually cost from $5 to $11 per watt depending on the company and size of paneling. The goal of SolarCity with these new mass-produced panels will cost $2.50 per watt by 2017. That's a huge amount of savings.
These panels can also be used as a tax credit and the installation cost is quickly overcome by the savings of energy costs and tax refunds.
"Building a more efficient solar panel and having that manufacturing in-house is certainly one strategic response that SolarCity has done to hedge against the risk of the ITC (Investment Tax Credit) going away," Pierre Bull, an Energy and Transit policy analyst with the National Resource Defense Council, told Vice.
What do you think about solar panels and the idea of mass-producing them? Would this amount of savings entice you to buy them for your own home?
Tell me what you think by leaving a note in the comments section below.