The growing efficiency of photovoltaic technology means that researchers are closer than ever to achieving cost parity with fossil fuels, which would set the stage for major investments and upgrades in solar energy production.
A recent example comes from the Kansas City Star, which noted that one area bank vice president had decided that solar panels were a sensible investment since they would pay for themselves in 10 years as opposed to the 25 years that was more typical of older technology.
The newspaper gave a glimpse of the growth potential of solar energy by noting that it currently accounts for only 1/1000th of the nation's electrical output - although the amount did at least double over the past year.
Consumers can benefit from lower solar prices in part because of lower material and production costs for photovoltaic panels, as well as other factors like state and federal tax credits.
