Solar Panel Price Trend Graph 2017

As the chart of the week from the april world economic outlook shows solar and onshore wind turbines saw the biggest price declines among low carbon energy sources between 2009 and 2017.

Solar panel price trend graph 2017. In 2010 solar panels cost about 2 50 per watt but by early 2017 that had fallen to just 0 38 per watt. Panel prices increased about 20 in early 2018 about the same time that the us took steps to implement tariffs on imported solar panels but since then have resumed their downward trajectory. Therefore if the solar panel output is 250 watts that single panel might cost you 187 50. Solar companies can typically get a single solar panel at a price of 0 75 per watt.

Changes in solar panel cost over time can be explained by swanson s law which states that the price of solar pv modules decreases by about 20 percent for every doubling in global solar capacity the law is named after richard swanson founder of high. In 2019 the solar industry generated 18 7 billion of investment in the american economy. While in 1977 prices for crystalline silicon cells were about 77 per watt average spot prices in august 2018 were as low as 0 13 per watt or nearly 600 times less than forty years ago. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels.

Solar as an economic engine. Prices dropped 76 percent for solar panels and 34 percent for turbines during that time making them competitive alternatives to fossil fuels and more.