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Residential solar

During the recent economic turmoil of October 2010, many residential solar providers took a large hit on Wall Street. The Dow Jones industrial average dropped approximately 20%, but some major providers lost as much as 30%. Environmentalists hope that this will not impact a switch to solar energy, but some analysts fear that it will.

Companies that provide residential solar grids were susceptible to major losses because banks are refusing to extend credit. Wall Street traders realized that solar panels are purchased in large part on credit and feared that sales would go down dramatically. While investing in residential solar power can save money in the long run, it does require a large initial down payment which many homeowners pay with home equity loans.

Providers of residential solar panels may take another hit. With their market capital falling, they will not be able to invest as much in research and development. This may make it harder to drive down the cost of installing solar panels. Environmental advocates hope that government subsidies can help ease the squeeze on residential solar providers.

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