Despite the initial investment, several financial incentives can help offset the cost of a solar power system. In many countries, government programs offer tax credits, rebates, and grants to promote solar energy adoption. For instance, in the United States, the Federal Solar Investment Tax Credit (ITC) allows homeowners to deduct a significant percentage of the installation costs from their federal taxes.
Furthermore, government policies and incentives can have a substantial impact on the pricing landscape. In many regions, policies promoting the use of renewable energy, including tax credits, grants, and feed-in tariffs, can encourage investments in bifacial solar technology. Such incentives can lead to a decrease in the overall cost of installation and enhance the financial viability of adopting bifacial panels. This dynamic relationship between market forces and government intervention highlights the complex landscape influencing prices.