Solar Panel Price Trend Graph 2017

Solar as an economic engine.

Solar panel price trend graph 2017. In 2019 the solar industry generated 18 7 billion of investment in the american economy. Solar companies can typically get a single solar panel at a price of 0 75 per watt. In 2010 solar panels cost about 2 50 per watt but by early 2017 that had fallen to just 0 38 per watt. The 392 megawatt california ivanpah plant developed by.

The average price per watt dropped drastically for solar cells in the decades leading up to 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. 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.

Solar panels stand at the ivanpah solar electric generating system in the mojave desert near primm nevada u s on monday march 10 2014. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels.