Solar Photovoltaic Prices Continue To Fall
Solar prices are predicted to fall under $1 per watt by 2020 in the US. Here's an excerpt:
According to GTM Research’s latest report, U.S. Solar PV Price Brief H1 2016: Pricing, Breakdowns and Forecasts, pricing for fixed-tilt ground-mount PV systems will hit $0.99 per watt by 2020. This would achieve the Department of Energy’s ambitious SunShot target of $1.00 per watt by the end of this decade.
The report provides a detailed breakdown and forecast of solar costs by component and segment.
GTM Research estimates the price for a utility-scale fixed-tilt ground-mount PV system to hover around $1.25 per watt today. Modules represent half of the cost, additional hardware such as inverters and balance-of-system components represent 22 percent, and the remaining 28 percent is made up of soft costs.
The report notes that soft costs present the both biggest opportunity, but also the largest hurdle for future cost reductions, particularly in the residential and commercial market segments where prices are much higher than in the utility-scale segments.