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Economic benefits also make solar power an attractive option for both individuals and businesses. The cost of solar panels has dropped dramatically over the past decade, making solar installations more accessible. Many governments incentivize solar energy adoption through tax credits, rebates, and grants, further encouraging investment. As a result, a growing number of people are choosing to install solar panels on their homes, contributing to a rapid increase in installations globally.
Having determined these parameters, it is important to set a budget. While the initial investment in solar panel technology can be substantial, available incentives and financing options can significantly reduce the cost. Governments and local authorities often provide tax credits, rebates, and other financial aid to promote solar energy adoption.