Price of Solar Power Panels Dropping

Nov 21, 2014

The price of solar power panels dropped as much as 19 percent nationwide in 2013 and is expected to drop by as much as 12 percent in 2014.

The price of solar power panels for utility-scale projects fell below $2 per watt in 2013 and have continued to drop in 2014 to about $1.80 per watt (59 percent below 2010 prices).

The DOE SunShot Initiative is a national effort to make solar energy cost-competitive with other forms of electricity by the end of this decade. It’s goal is to drive down the cost of solar power to 6 cents per kilowatt-hour.

The range of the price drop for 2013 fell between 12 percent and 19 percent, while the forecast for price drops in 2014 were between 3 percent and 12 percent.

In conclusion, the trend is downward, a direction that’s expected to continue through 2016.

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