Solar Panel Price Trend Graph 2017

As of fall 2019 nearly 250 000 americans work in solar more than double the number in 2012 at more than 10 000 companies in every u s.

Solar panel price trend graph 2017. Panel prices increased about 20 in early 2018 about the same time that the us took steps to implement tariffs on imported solar panels but since then have resumed their downward trajectory. Therefore if the solar panel output is 250 watts that single panel might cost you 187 50. 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. As the chart of the week from the april world economic outlook shows solar and onshore wind turbines saw the biggest price declines among low carbon energy sources between 2009 and 2017.

Prices dropped 76 percent for solar panels and 34 percent for turbines during that time making them competitive alternatives to fossil fuels and more. In 2019 the solar industry generated 18 7 billion of investment in the american economy. However if a homeowner is trying to buy one or two panels on their own for a small diy project they will likely pay closer to 1 per watt. The average price per watt dropped drastically for solar cells in the decades leading up to 2017.

The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels. In 2010 solar panels cost about 2 50 per watt but by early 2017 that had fallen to just 0 38 per watt.