Solar panel installation costs can be reduced by half

To enable home and business users to use solar photovoltaic systems, scientists and engineers at GE's R&D center are working on two research projects aimed at simplifying solar installations and reducing installation costs. The two new projects will integrate solar power from power companies, commercial buildings and residential houses.

The first project invested 2.9 million U.S. dollars to improve the basic technology of home solar systems, thereby reducing the cost of key components. The second project, which will invest $3 million, will focus on the application research of commercial rooftop solar systems. The purpose is to develop pre-connected and configured components to simplify the installation of solar systems on the roof of commercial buildings.

At present, GE is investing hundreds of millions of dollars to promote the development of the solar energy industry. Not long ago, GE Energy Group announced the construction of the largest solar plant in the United States in Colorado to produce high-efficiency thin-film solar cell modules.

Charlie Korman, head of solar energy for GE's global R&D center, said: “At present, the average cost of installing a solar system in an average home is US$6.5 per watt. We plan to reduce costs by more than half, which will make it affordable to millions of families. With the use of solar energy systems, in order to achieve the goal of reducing costs by half, new technologies are needed to simplify the installation of solar panels and reduce costs, making the entire process akin to a new roof on your home."

Korman said that with the increasing number of installations, the price of rooftop solar has dropped significantly, but the price is still not competitive with the current electricity price. If the installation cost drops to $3 per watt, it will become very attractive.