The Dramatic Decrease in Solar Panel Prices

Over the past two decades, the cost of solar panels has plummeted by more than 97%, transforming solar energy into an increasingly viable option for electricity generation. This drastic reduction has been propelled by various factors, including government incentives like Germany's feed-in tariff, which provided financial assurance to solar power investors and encouraged widespread installation. As a result, the global capacity for solar power installed within a mere two days surpassed that of the entire world in 2004. This trend signifies not only a remarkable achievement in the renewable energy sector but also hints at a sustainable future where solar energy could play a crucial role in combating climate change.