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Brand reputation also plays a vital role in pricing. Well-established brands that are known for their durability and efficiency, such as SolarEdge, SMA, and Enphase, may command higher prices. However, investing in a reputable brand can often lead to better performance and longer warranties, providing peace of mind for homeowners.
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The lifespan of solar panels is another crucial consideration, as their longevity directly impacts their overall efficiency and economic viability. Most solar panels come with warranties ranging from 20 to 25 years, during which they are expected to maintain a certain level of performance. In practice, many solar panels can continue to function effectively beyond their warranty period. Research has shown that high-quality panels can operate for 30 years or longer, although their efficiency may gradually decline over time. Typically, solar panels lose about 0.5% to 1% of their efficiency per year, meaning a panel that starts at 20% efficiency could still achieve around 80-90% efficiency after 25 years of use.
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