New solar panel product to reduce costs up to 10%

A new solar panel product that will reduce costs by as much as 10% is expected to go into production by the end of the year under an agreement reached with the world’s largest renewable energy company.

SunEdison Inc., which operates its solar headquarters in Belmont, Calif., plans to begin production of a component that will increase the efficiency of solar panels by the end of the year. The solar panel module is expected to reduce total residential costs by about 10%, commercial costs by about 8% and utility scale costs by about 6%.

The component, created by Fremont, Calif.,-based company, Solaria Corp., will reduce costs because it makes solar panels more efficient. The module increases output of solar panels by 15%, the company said.

Solar energy services company los angeles.