Solar Panel Price Trend Graph

Therefore if the solar panel output is 250 watts that single panel might cost you 187 50.

Solar panel price trend graph. 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. In the real world this works out to about a 10 cost decrease each year. Solar companies can typically get a single solar panel at a price of 0 75 per watt. In 2019 the solar industry generated 18 7 billion of investment in the american economy.

Solar as an economic engine. The solar industry even has its own name swanson s law for the falling price of solar panels. To make the chart enf calls over 100 panel manufacturers certified with iec61215 or iec61730 to check their price each month. Solar panel cost data 2020 updated.

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. Solar panel cost is affected by many factors such as the state you live in solar panel brand and total system size. 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. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels.

The average cost of installed residential solar power systems is currently 2 64 per watt a typical 6kw system costs 11 722 after claiming the 26 solar tax credit.