Solar Panel Costs Drop 60% In the US Since Early 2011

The US Solar Energy Industries Association (SEIA) and GTM Research these days launched their ultra-modern quarterly file concerning the USA sun power market. There are a ton of interesting facts from the document, including the 60% price discount in sun panels cited within the title. Here are a few file highlights:

Solar Panel Costs Down

For one, as the identify above notes, solar panel expenses had been 60% lower inside the second area (Q2) of 2013 than they had been in early 2011. Overall sun PV device fees, on common, have been 40% lower, and that they have been 50% lower than common solar PV device prices in early 2010.

I’ve emphasized this to many, over and over: when you have a value of sun from some years ago stuck for your head, you are in all likelihood greatly overestimating the price of solar today.

US Solar Power Growing Fast

Aside from the huge value drop, some other factor worth noting is that solar power continues to develop strongly. Q2 was the second one-largest zone for solar electricity growth in US history, most effective trailing Q4 2012 (in most cases due to a force on the give up of the year to put in quite a few sun in time to take gain of 2012 tax credit – the 4th sector is always the most powerful of the year). In total, 832 megawatts (MW) of solar have been set up in Q2 2013.

Low solar panel costs force US sun energy increase (solar panel costs down, growth up)

Also worth noting is the clean truth that overall solar strength capability inside the US is ready to surpass 10 gigawatts (10,000 MW) this yr. Currently, the country is at nine,370. More likely than now not, the ten GW milestone could be handed someday this region.

Solar panels set up throughout america now have enough electricity ability to energy up to approximately 1.Five million average US homes. That’s magnificent. That’s about enough to strength Philadelphia or Phoenix, the u . S .’s fifth- and 6th-biggest cities.

In 2013 on the complete, about four.Four GW of solar PV electricity ability are projected to come back on line, about 30% more than in 2012. Yep, it really is a pretty big chunk of the United States general. And the motive? As I wrote above, sun panel prices have dropped a whopping 60% within the past 2.5 years or so. Arc net

Solar Is A Great Investment – Financially, Economically, & Environmentally

According to some analyses, the go back on investment (ROI) from purchasing solar panels nowadays beats the S&P 500 (on average) in 13 states and beats 5-year CDs (on common) in forty three states.

Plus, human beings realise that they’re no longer only making a living on these investments, but they are also supporting the weather (which we sort of want to stay livable), assisting their local groups, and turning into more strength independent and strength secure.

Speaking of helping the local community, sun power now employs over one hundred twenty,000 humans throughout the USA. That’s enough human beings to fill the towns of Athens (Georgia), Springfield (Illinois), Ann Arbor (Michigan), or Berkeley (California)… And greater. Those 120,000 humans are employed in five,six hundred organizations. Naturally, all of these stimulates neighborhood and nation economies, as well as america financial system as a whole.

Why Solar Panel Costs Have Fallen So Much

Solar panel costs and total hooked up sun energy installation fees are down throughout market segments. “Quarter-over-sector, the national average fee declined by nine.3% from $three.36/W to $three.05/W, whilst losing eleven.1% from $three.43/W one year in the past,” SEIA writes. “From Q2 2012 to Q2 2013, residential system prices fell eleven.5% percentage, from $5.Forty three/W to $4.Eighty one/W. Quarter-over-area, mounted charges declined by using 2.2% percent. Installed prices came down in maximum predominant residential markets which includes California, Arizona, and New Jersey. Non-residential device charges fell 14.7% percent year-over-year, from $four.35/W to $3.Seventy one/W, whilst sector-over-area, set up prices reduced by using 5.Four%. States with SREC markets, inclusive of New Jersey and Delaware, noticed sizable charge declines when you consider that installers must keep to preserve margins razor-skinny given low SREC charges. Also of observe, Pennsylvania’s non-residential system charges dropped with the aid of thirteen% region-over-region amidst its very own fledgling SREC marketplace and a kingdom rebate application set to run out at the end of 2013.”

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