ou ever thought about putting solar panels on your roof? Now might be the time to do it. Prices for solar panels have plummeted, and industry experts anticipate a continued decline.
The culprit is an oversupply of silicon, an essential component of most solar panel systems. "Raw silicon that used to be $450 bucks per ounce is now worth $45 bucks per ounce," said Gaelan Brown, spokesperson for groSolar, a Vermont-based installer and distributor of solar panel systems. This, coupled with a 30 percent federal tax credit for solar installation and ever-cheaper models from China, have saved homeowners as much as $14,000, according to Mr. Brown.