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Economic benefits of using newer solar panels

When you read various information on solar panels, there is a something of a common belief that solar panels need to last for more than 20 years in order to produce economic benefits for those who decide to install them.

The average lifespan of solar panel is said to be 20+ years so in correlation with the economic viability you should be OK on the long run.

The recent study on solar panels by the National Renewable Energy Laboratory (NREL) in Colorado argues that even the lifespan of 15, or even 10 years, could prove to be economically viable.

The lead author of this study Vladimir Bulović, professor of electrical engineering and computer science says that "many promising new technologies stuck on the sidelines, as conventional crystalline silicon technologies overwhelmingly dominate the commercial solar marketplace."

What this means is that even the short-lived solar panels with the lifespan of 10 years could be economically viable because "as long as newer solar panels are electrically and physically compatible with the racking and electrical systems, it can make economic sense to replace the panels with newer, better ones as they become available, while reusing the rest of the system."

Basically, instead of having system for 25 to 30 years and then replacing it you could replace solar panels earlier and make it work economically if you replace your old panels with the ones that are more efficient.

The final conclusion is that "with some caveats about financing, you can, in theory, get to a competitive cost, because your new panels are getting better, with a lifetime as short as 15 or even 10 years."

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