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Solar panels to get 10 per cent cheaper every year

Solar panels to get 10 per cent cheaper every year

Installing solar panels to reduce the cost of energy bills could become increasingly economical, according to an expert.

Over the next decade the price of solar panels is set to drop by as much as ten per cent a year, according to Kass van der Leun of sustainable energy firm Econcern.

Speaking to delegates at the World Future Energy Summit in Abu Dhabi, Mr van der Leun claimed that within ten years solar energy will become "the major new energy source".

He added: "In the last decade, solar energy volumes have grown at an annual rate of 40 to 50 per cent. Conversely system prices are decreasing by an average seven to ten per cent per year, due to technological innovation and increased production capacity."

As well as prices coming down, the UK government is to offer incentives to people who install microgeneration devices including solar panels and wind turbines.

So-called feed-in tariffs will see owners of microgeneration systems receive an above market rate of pay for every unit of electricity they generate.

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