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Should I wait to buy solar panels?

When considering solar panels for your home or business, a lot of people want to know whether they should wait to go solar until the technology improves or gets significantly cheaper. The truth is, that despite the drop in cost over the last decade, the technology for monocrystalline and multicrystalline photovoltaic solar panels (our most commonly quoted solar panels) has not changed a whole lot. The biggest change in the industry has been driven by the increased demand (thanks to government incentives and the prioritization of clean energy) of photovoltaic technologies. The increased demand has allowed economies of scale to improve the efficiency of manufacturing processes for solar panels, inverters, mounting hardware, and other miscellaneus products. This has in turn lowered the price of the equipment. In the following chart you can appreciate how much photovoltaic solar panel efficiency has changed over time.