Rate At Which Solar Panel Prices Have Dropped

The price of solar has dropped by an incredible amount.

Rate at which solar panel prices have dropped.

It s well established that it applies to the cost of solar modules. Solar panel prices have dropped off cliff sunk into ocean solar panels 9 cheaper than in 2006. 3 of course it s all about location. For example in 2012 you could buy an astronergy 235w panel for 275.

This includes panasonic solar lg solar q cell enphase unirac and tesla powerwall to name a few. But solar modules are only around a third of the cost of solar electricity. Today it s around 0 13 per watt or about 600 times less. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power.

Incredibly over an eight year span from 2006 to 2014 worldwide average solar panel module prices have dropped over 75 from 3 25 per watt to about 72 per watt. At solarreviews our mission is to arm consumers that want to buy solar panels with the best information tools possible to help them find the best solar panels for their home the best inverter for their solar system and also the best solar prices they can get. Prices have dropped more than 60 percent in the past several years with the average upfront cost for the commonly used 6 kw system landing between 16 200 21 420. Solar optimum only installs tier one industry leading panels inverters racking battery storage and solar products from the best in the industry that have the best warranty.

However in the last few years price decreases have slowed and are decreasing at a rate of about 5 per year. The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. The price of solar modules per watt of power drops by somewhere around 25 for every doubling of cumulative manufacturing. It looks like the learning rate for every.

As of september 2020 the average solar panel cost in california is 2 99 w given a solar panel system size of 5 kilowatts kw an average solar installation in california ranges in cost from 12 708 to 17 192 with the average gross price for solar in california coming in at 14 950 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives. Thanks to rapid technological advancements panel prices have consistently dropped 6 8 per year. Trends have continued until recently with a report from the nrel that showed the price per watt of solar energy dropped by 27 in the first quarter of 2017 alone. Today you can buy a 345w astronergy panel for 242.