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New research shows that the cost of installing and owning solar panels will fall even faster than expected, BBC News reported.

The forecasts are that solar panels would be cost-competitive with energy from the grid for half the homes in Europe by 2020 – without a subsidy. Incentive programs for solar panels in Germany, Italy and Spain have created manufacturing volume that’s bringing down costs.

Due to the recession, solar panel prices dropped 30 percent last year alone due to an increase in output and a drop in orders.

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