50% increase in the use of solar power when energy prices rise above affordable levels

From 55,000 to 115,000 customers, the country’s solar usage has grown by around 50%, underscoring the fact that the cost of power per unit has risen beyond the means of the average person.

Because electricity is becoming more expensive per unit, more people are choosing to use solar power. Net metering volume in the nation has reportedly hit 1735 MW, according to the Alternative Energy Board.

As noted by international media outlets, solar panels are now so inexpensive in many nations, including Europe, that they are being used to create garden walls in Germany and the Netherlands.

There’s a rising trend in Europe to use solar panels for garden fences rather than typical rooftop installations, as evidenced by photos shared on social media. In these nations, individuals are looking into different applications for solar panels due to the high labour costs associated with rooftop installations.

Rising output from Chinese companies flooding the worldwide market is the reason behind the fall in solar panel prices. Price reductions have been substantial as a result of the overstock making it difficult for US and European manufacturers to compete.

By the end of the year, the supply of solar panels is expected to triple the present demand, reaching 1,100 gigawatts worldwide, according to the International Energy Agency. Already in 2023, prices on the spot market have cut in half, and by 2028, another forty percent is predicted to drop.