Sponsored Advertisements
Slide Image
Slide Image
Slide Image
Slide Image
Slide Image

Fall in Solar Panels/System Prices

News (Headlines) 3 hrs ago
  • User
    Double Delight Biz Center
    3 hrs ago
    Thread Thumbnail

    PRICE OF SOLAR PANELS ARE DRASTICALLY FALLING 

    What could have prompted the current reduction in price of Solar equipments especially solar panels?

    This could have been due to a number of factors like market trend, industrial revolution and competition in the manufacturering industry among others.

    1. THE USUAL FALL IN  RENEWABLE ENERGY EQUIPMENT : For some years now, renewable energy is becoming a household name with the fact that people are seeking for alternative source of power to make up for high cost of the national electric power system: price of Solar system equipment among other renewable energy materials are on the fall but this year we are noticing a wide range in the price crash. This must have been affected by other factors other than what we already know.
    2. MASSIVE PRODUCTION AND SUPPLY: Manufacturers of these solar products are actively fighting to gain control of the Nigerian huge market and hence they are mass-producing solar panels with different degree, wattage and quality. Though Some qualities are questionable and are substandard but this will be a topic for another time.
    3. The federal government also have a hand in the price drop having encouraged the importation of solar equipment at a Duty free rate. This leaves a big opportunity for importers to cash in on and bring in both used and new brand solar panel. Although solar panels have a lifespan of about 25-30 years. It still necessary for an experienced hand to sort out malfunctioning panels before they go on the roof and set the roof on fire  Any solar panel can be fixed properly to last for as long as one wants it to, but this must be done by a qualified personnel.
    4. The fall in prices in the market have prompted well known manufacturers in the market, like Jinko,  to slice down their work force by about 30 percent while others like Tranis and Sunking  interestingly are taking up more workforce .I will suggest both business sectors and domestic users to tap into this price fall now as this may not be for long. If you think otherwise please feel free to comment below.

    Views (3) Reply
Ask a Question

Comments (0)

  • Be the first to comment!

Leave a Reply

Related Threads For You

Top Contributors - 2025

These members spark lively discussions and attract the most attention in August 2025.

New Discussions