First Solar Panels for your Home

First Solar Inc. announced on Wednesday that it will start supplying solar panels for households. Up to this point First Solar supplied panels for huge solar power plants in Europe and Asia. First Solar currently have plants in Germany, Ohio and Malaysia. First Solar will sell SolarCity Corp., a residential-installation company, enough panels for 25,000 homes in the next five years.

SolarCity sells residential solar power systems through a 15-year "no money down" lease program. However, if a home-owner chooses to pay a $1,000 down payment, the lease payment and utility bill will cost him less than his/her old utility bill.

The high first payment to install a solar system has been the biggest obstacle facing residential solar power. But with First Solar's low cost panels, prices will go down.

First Solar's panels are cheaper to produce than traditional solar panels. However, the panels are less efficient thus requiring more roof space compared with more expensive silicon panels.

Source: The Arizona Republic