Solar Panel Price Trend Graph

The average cost of installed residential solar power systems is currently 2 64 per watt a typical 6kw system costs 11 722 after claiming the 26 solar tax credit.

Solar panel price trend graph. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels. In 2019 the solar industry generated 18 7 billion of investment in the american economy. This chart tracks the price that chinese panel manufacturers are selling their crystalline panels for. Therefore if the solar panel output is 250 watts that single panel might cost you 187 50.

Popularized in a 2012 article in the economist swanson s law states that solar panel prices tend to decrease by 20 for every doubling of worldwide panel shipments. Solar as an economic engine. Solar companies can typically get a single solar panel at a price of 0 75 per watt. Solar panel cost data 2020 updated.

The solar industry even has its own name swanson s law for the falling price of solar panels. To make the chart enf calls over 100 panel manufacturers certified with iec61215 or iec61730 to check their price each month. The price quotes are for 1mwp of panels fob china port. 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 the real world this works out to about a 10 cost decrease each year.