Everything You Need To Know About The Markets Demands Increasing Solar Prices
Each January the number of rebates available for a solar installation are reduced. However, right now, there are a number of additional market forces that will impact the overall prices of solar installations… the four main market forces contributing to the rise in prices:
1. Silicon shortages and the falling dollar
Globally, the price of poly and mono silicon wafers for panels are going up due to increased demand and rumoured production issues. Prices have risen by almost 300% in 2021. Pair this with the steady fall of the Australian Dollar and you’ve got a notable increase of the cost of a system.
2. Global PV demand increasing by 25%
Global PV demand is predicted to increase by 25% in 2021. Demand had decreased during 2020 due to the pandemic, temporarily pushing pricing down for last year, however, we are likely to see a correction.
3. Installer shortages push labour costs up
COVID lockdowns have created a backlog in the installations of projects across Australia. There is a shortage of installers to complete jobs and this demand is driving an increase in labour costs.
4. STC rebate reductions
There is always a rush to claim STCs before they reduce at the end of December. However, in 2021, the installer shortages and lockdowns are likely to put even more pressure on getting jobs installed in time.
Market demands are higher than they’ve ever been before, meaning projects need to get locked in sooner to secure better pricing. Talk to our team to help get your project booked in before the end of 2021, book a 20-minute no-obligation consultation with us by filling out our online form ~ https://go.rt-d.com/getgreener-consult-oc