Solar Power Price Drop

Research from mit shows that over the past 40 years the price of photovoltaic modules have dropped by. 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. Medium 8 16kw system got a 400 price increase to 16 400 before incentives large 12 24kw system got a 1 100 price.

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Here are tesla s new prices for the bigger solar rooftop panel systems.

Solar power price drop.

Today it s around 0 13 per watt or about 600 times less. In an article for bloomberg news noah smith highlights a study by mit researchers that examines the factors influencing the decline in solar prices. The researchers found that from 1980 to 2001 government funded research and development was the main factor in bringing down costs but from 2001 to 2012 the biggest factor was economies of. He predicts that the price of constructing solar power technology will decrease by 4 4 percent each year meaning that by 2022 the price of projects will have dropped by 27 percent.

This represents a massive 9x drop in the price of solar panels since 2006. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power. The source of energy enters a new era solar has seen a dramatic drop in price. Analysts predict that prices could fall below 0 20 per watt by 2040.

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