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Research in the solar industry is ongoing and I have no doubt that solar panel technology will improve. However, most changes in design and efficiency are small. And the research and development necessary to ensure the technology works in the field and not just the lab takes time. The bottom line is this: the financial value of small efficiency gains from panel improvements is outweighed by the cost of waiting. Any money you might save by installing more efficient panels is significantly less than the money you would save immediately by installing solar today.
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The cost of solar panels has fallen tremendously the last few years—now half of what they were in 2008, and 100 times lower than they were in 1978! So, should you wait for the price to drop lower? We've actually started to see the prices of PV solar modules begin to flatten and even slightly increase since 2013. Now that demand for solar is gaining momentum, the costs will likely continue to rise to meet that demand.
The rate of increase varies depending on your state and electricity source but based on the last decade you can expect around 3-5% hikes in grid electricity each year (Australian Bureau of Statistics). That means that if you invest in a solar system that meets 100% of your electricity needs today, you will fully save on this year's costs. But each year thereafter you'll save an additional 4-5% for the life of your solar system (up to 25 - 30 years). As energy prices skyrocket you can rest easy.
Rebates for installing solar, once as high as $7800 on 5 kW system, have largely gone
Many owners, Who has gone solar with gross meters have benefited from the Higher FIT from state schemes to make a solar installation more economically attractive. A rebate on solar installation is also scheduled to drop, While we're all crossing our fingers and toes hoping for an extension or hold. It is a Win-win for customers and the environment to install solar before these lucrative government offering ends.
o, yes, you can wait and hope for the technology to improve or costs to decline. But meanwhile you're tied to your polluting, fossil-fuel-based power company with its steadily escalating electricity prices. Ugh. In contrast,
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