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Affordability is another crucial aspect driving the adoption of new solar panels. As manufacturing processes become more streamlined and scale increases, the cost of solar technology continues to decline. According to industry reports, the price of solar panels has decreased by over 80% in the last decade, making solar energy accessible to a broader audience. Governments around the world also support this transition by implementing incentives such as tax credits and rebates, further encouraging homeowners and businesses to make the switch to solar energy.
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4. Government Incentives and Rebates Many governments offer subsidies, tax credits, or rebates for solar panel installations to encourage renewable energy adoption. These incentives can considerably lower the initial cost, making solar energy more accessible to homeowners and businesses.
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