The Dramatic Drop in Solar-Energy Prices

Reader Contribution by Sarah Kezer and 123solarpower
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The price of solar energy is at an all-time low according to a recent report conducted by the Lawrence Berkeley National Laboratory (Berkeley Lab). Due to lower solar installation costs, improved project efficiency, and a 70 percent decline in purchase agreement prices since 2009, this renewable energy resource has never been more affordable.

Upfront Solar Energy Costs

The average installed price of photovoltaic (PV) devices has fallen by more than 50 percent since 2009, making the initial investment cost of system installations feasible for a much wider range of homeowners and businesses. The Berkeley Lab’s latest “Utility-Scale Solar” report cites that up-front costs have fallen from around $6.3/W in 2009 to $3.1/W for projects completed in 2014.

“By the end of 2020, the amount of installed solar capacity will be 300 percent higher than today,” Dan Whitten, vice president of communications at the Solar Energy Industries Association, said. “Nationwide, it grew 10 times between 2008 and 2015.”

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