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# Is This Solar's Moment?

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<!-- video src="https://cdn.jwplayer.com/manifests/YNLpJVsJ.m3u8" -->
## Video: Is This Solar's Moment?

[Watch (HLS stream): Is This Solar's Moment?](https://cdn.jwplayer.com/manifests/YNLpJVsJ.m3u8) (1:54)

![Is This Solar's Moment?](https://cdn.jwplayer.com/v2/media/YNLpJVsJ/poster.jpg?width=720)

_Published 2014-08-21. Could a surplus of solar panels finally drive down the price to make it affordable for more Americans?_


---

Jul 27, 2023 5:09 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[Community Solar Explained](/video/mM4KYWuE/)

### Community Solar Explained

[How to Watch the Great American Solar Eclipse](/video/Q7nPkiwC/)

### How to Watch the Great American Solar Eclipse

[Watch The Solar Eclipse](/video/i904Q64p/)

### Watch The Solar Eclipse

---


## Transcript

[ MUSIC ] The new report suggest that the global over supply of solar panels could lead to a surge of installations as prices hit a new low. [ MUSIC ] Since 2006, the solar industry has struggled against the low price competition offered by coal and natural gas. But now, all that could change. Range. Excess inventory has built up, prices are falling and customers are eyeing a good deal. Since 2010, solar installations in the US have increased six fold. While the price has decreased by 60 %. With prices so low, manufacturers are scrambling to meet the demand and risk a solar panel shortage. Installations in the U.

S. are expected to rise 29 % this year. But Europe is still the largest consumer of solar panels in the world. With a solar capacity six times larger than that in the U. S. 200, 000 American homes have solar set ups installed. An investor and chairman of Solar City, Elon Musk purchased solar cell maker Silevo in June, for $ 200 million. We think this potential breakthrough with high efficiency, low cost solar panels, that can generate sustainable electricity. He estimates. That 30 million homes in the country could benefit from solar power. It wouldn't help to just solve one side of the, the, the question to have electric cars that are then powered by coals, so we've got to have sustainable car generation and sustainable power consumption.

US companies are moving swiftly to increase production, but the majority of the manufacturing is still happening overseas. With China accounting for 45 % of all manufacturing for solar panels and cells compared to just 5 % in the US.

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