Dive Summary:
- According to the latest edition of "Tracking the Sun", a report by the Department of Energy's Lawrence Berkeley National Laboratory, the average cost of solar energy decreased in 2011 and through the first half of 2012.
- The report observed average installed photovoltaic (PV) prices decline 11-14% in 2011 and a further 3-7% through the first half of 2012.
- Installed PV prices have decreased 5-7% annually since 1998; the most significant reductions are due to the steep decline in module prices since 2009.
From the article:
"... The latest edition of Lawrence Berkeley National Lab’s 'Tracking the Sun,' an annual report on solar photovoltaic (PV) costs in the U.S., examined more than 150,000 PV systems installed between 1998 and 2011 and preliminary data from the first half of 2012. The report found that the average installed price of residential and commercial PV systems completed in 2011 range from $6.1/W for smaller projects to $4.9/W for larger projects, an 11-14 percent decrease from the year before. Installed prices fell an additional 3-7 percent in the first half of 2012.
Historically, installed PV prices have declined an average of 5 to 7 percent per year from nearly $12/W in 1998, with particularly sharp reductions occurring since 2009, the report found. The recent price decline is, in large part, attributable to falling module prices, which fell by $2.1/W from 2008 through 2011, and have fallen further still in 2012, according to the report. ..."