Solar panels ‘to be more affordable by 2013′ Solar panels will be much more affordable by 2013 – costing half of their 2009 price, so could play a valuable role in the UK’s renewable energy ambitions, a report has said.

Ernst & Young has pointed out that the average cost of an installation of solar panels has dropped to around $1.50 (just under £1) per unit, from $2 (around £1.20) in 2009, the Guardian reports.It predicts that the price will continue to fall to reach the $1 (around 60p) mark in 2013.And Ernst & Young adds that solar panels are only economically viable at the moment because of government subsidies through the Feed-in-Tariff scheme, but with the lower cost, people could afford solar panels without extra help.And because of this, it argues, solar electricity could play an “important role” in achieving the UK’s renewable energy targets.A recent study by TheEcoExperts.co.uk showed that 60% Brits think adding solar panels to their property would be too expensive, while 7.5% of people were dubious about how much money renewable energy could save them. Read more…

6.3 million households are in fuel poverty Fuel poverty has reached dangerous levels in the UK, according to shocking new research from uSwitch. Read more…

– Growth in China’s non-manufacturing sector eased to a four-month low in June, fueling concerns that activity in the world’s second largest economy is slowing, survey results from the China Federation of Logistics and Purchasing showed Monday.

The headline purchasing managers’ index dropped to 57 in June from 61.9 in May. A PMI reading above 50 indicates expansion of the sector.

CFLP’s manufacturing PMI fell in June, indicating the weakest expansion in factory activity in 28 months, according to survey results released last week. This, along with today’s data, adds to concerns that growth has started to ease due to continued policy tightening aimed at staving off inflation.

Total new order growth weakened during the month. The corresponding index fell by 3 percentage points points to 53.5 in June.

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– Construction spending in the U.S. fell dramatically in May, with total annualized spending rates falling to the lowest level since September 1999, according to figures released Friday by the Commerce Department.

Total construction spending for May came in at a seasonally adjusted annual rate of $753.5 billion, a 0.6 percent decline from the revised April figure of $757.9 billion. Most economists had predicted a somewhat smaller contraction of 0.3 percent.

Public construction spending fell faster than private construction spending, with public construction spending down 0.8 percent while private spending fell 0.4 percent.

Graduates face 11 years of debt University students are now facing an average debt of £21,198 when they graduate, which will take an average of 11 years to pay back. Read more…