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Solar Power Gets Cheaper
- By: Ben PreissAug 28, 2007
There have been many trends posted involving solar power but in the US it still only accounts for 1% of the electricity generated. Even though it is getting cheaper the main barrier is still the cost. Although growing investment, technological breakthroughs and lower prices have lead to an increase in sales, which lowers prices further due to economy of scale. According to Deutsche Bank (DB), by 2014, solar-system prices will be competitive with conventional electricity when energy savings are figured in, without government incentives. The solar industry is expected to triple its business in the next three years, powered in part by government incentives in Germany and Japan and in the US, customer rebates given by New Jersey and California.