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4. Technological Advances Innovations in solar technology can lead to reduced manufacturing costs and enhanced performance capabilities. Newer technology, such as monocrystalline cells in 380W panels, often results in higher efficiency and longer lifespan, impacting the price accordingly.
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Another option is a power purchase agreement (PPA), where the homeowner agrees to purchase the electricity generated by the solar panels at a predetermined rate. This rate is typically lower than the local utility prices, making it an attractive option for many. Like solar leases, PPAs require no upfront investment, and homeowners can start saving on their energy costs immediately.
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