Reuters recently published an article, based on a report by industry analysts, that the solar panel installations in US increased 33% compared to 2012 for the first quarter. Cost is the single most important challenge solar energy advocates are facing. Fossil based energy resources are still a lot more cost effective than renewable resources like solar energy deployments. However, the support from the government combined with the efforts of brilliant minds in our universities & research laboratories speed up the improvements in the solar energy industry. Solar system efficiencies increase & the production costs get lower every year. As a result, the report indicates that the avg residential solar energy cost fell below 5.0 $/Watt whereas the non-residential solar energy cost fell below 4.0 $/Watt.

Solar energy industry is one of the fastest growing energy industries in US and the industry leaders foresee much better results in the following years.

Click here to read the complete article from Reuters.