Read the article from the New York Times in the box below, and then answer the questions that follow. More Sun for Less: Solar Panels Drop in Price by Kate Galbraith, August 27, 2009 When Greg Hare looked into putting solar panels on his ranch-style home in Magnolia, Tex., last year, he decided he could not afford it. "I had no idea solar was so expensive," he recalled. But the cost of solar panels has plunged lately, changing the economics for many homeowners. Mr. Hare ended up paying $77,000 for a large solar setup that he figures might have cost him $100,000 a year ago. "I just thought, 'Wow, this is an opportunity to do the most for the least,' " Mr. Hare said. For solar shoppers these days, the price is right. Panel prices have fallen about 40 percent since the middle of last year, driven down partly by an increase in the supply of a crucial ingredient for panels, according to analysts at the investment bank Piper Jaffray. The price drops -- coupled with recently expanded federal incentives could shrink the -- time it takes solar panels to pay for themselves to 16 years, from 22 years, in places with high electricity costs, according to Glenn Harris, chief executive of SunCentric, a solar consulting group. That calculation does not include state rebates, which can sometimes According to the article, solar panel prices have fallen by roughly since the middle of last year.
Read the article from the New York Times in the box below, and then answer the questions that follow. More Sun for Less: Solar Panels Drop in Price by Kate Galbraith, August 27, 2009 When Greg Hare looked into putting solar panels on his ranch-style home in Magnolia, Tex., last year, he decided he could not afford it. "I had no idea solar was so expensive," he recalled. But the cost of solar panels has plunged lately, changing the economics for many homeowners. Mr. Hare ended up paying $77,000 for a large solar setup that he figures might have cost him $100,000 a year ago. "I just thought, 'Wow, this is an opportunity to do the most for the least,' " Mr. Hare said. For solar shoppers these days, the price is right. Panel prices have fallen about 40 percent since the middle of last year, driven down partly by an increase in the supply of a crucial ingredient for panels, according to analysts at the investment bank Piper Jaffray. The price drops -- coupled with recently expanded federal incentives could shrink the -- time it takes solar panels to pay for themselves to 16 years, from 22 years, in places with high electricity costs, according to Glenn Harris, chief executive of SunCentric, a solar consulting group. That calculation does not include state rebates, which can sometimes According to the article, solar panel prices have fallen by roughly since the middle of last year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Background information and a link to the news story
Transcribed Image Text:Read the article from the New York Times in the box below, and then answer the questions that follow.
More Sun for Less: Solar Panels Drop in Price
by Kate Galbraith, August 27, 2009
When Greg Hare looked into putting solar panels on his
ranch-style home in Magnolia, Tex., last year, he decided he
could not afford it. "I had no idea solar was so expensive,"
he recalled.
But the cost of solar panels has plunged lately, changing the
economics for many homeowners. Mr. Hare ended up paying
$77,000 for a large solar setup that he figures might have cost him $100,000 a year ago.
"I just thought, 'Wow, this is an opportunity to do the most for the least,' " Mr. Hare said.
For solar shoppers these days, the price is right. Panel prices have fallen about 40 percent
since the middle of last year, driven down partly by an increase in the supply of a crucial
ingredient for panels, according to analysts at the investment bank Piper Jaffray.
The price drops -- coupled with recently expanded federal incentives
could shrink the
--
time it takes solar panels to pay for themselves to 16 years, from 22 years, in places with
high electricity costs, according to Glenn Harris, chief executive of SunCentric, a solar
consulting group. That calculation does not include state rebates, which can sometimes
According to the article, solar panel prices have fallen by roughly
since the middle of last year.
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