Tweet
A Lawrence Berkeley National Laboratory study finds that the price of installing residential solar photovoltaic systems has fallen from cheaper solar panels and industry efficiency.
The study published today (click for PDF) finds that costs have fallen 30 percent from 1998 to 2009. The data, representing 70 percent of grid-tied solar electric installations across the U.S., shows that "dramatic" cost reductions are projected for 2010.
In the first ten months of 2010, the installed cost of solar PV systems fell by $1 per watt (DC), or a 14 percent drop in California, and by $1.2 watt in New Jersey, which a 16 percent reduction. California is by far the largest market for solar PV in the U.S. with about three quarters of installations, followed by New Jersey with 12 percent.
A solar photovoltaic array in Massachusetts.
(Credit:SunRun)
In 1998, the cost to have solar panels installed was $10.8 per watt. The price from 2010 in California and New Jersey is about $6 per watt, although prices vary significantly from state to state, the study found.
Consumers in Germany and Japan, where there are large-scale solar manufacturing and government incentives, pay less than people in the U.S. In 2009, homeowners in Germany paid under $5 per watt installed while people paid about $6 a watt in Japan.
The costs in Germany and Japan suggest that further near-term cost reductions are possible, according to the Lawrence Berkeley Lab. That is significant because state and utility incentives, notably in California and New Jersey, are being scaled back.
The overall downward trend in prices suggests that the solar industry has been successful in introducing more competition to spur efficiencies in delivering product, the study finds.
An uncapped 30 percent federal tax credit for solar installations (hot water or photovoltaics) remains in effect until 2016. Rebate and tax credits from state programs vary, as does the money available from selling renewable energy certificates, credits sold for generating renewable energy. (See state incentive program information here.)
Another factor making solar PV more accessible is the growing number of financing options. Rather than pay the upfront cost, which can be between $25,000 to $40,000 upfront depending on size, installers now offer an option to lease panels with a monthly fee which is offset by lower electricity bills.
Powered by WizardRSS | Work At Home Jobs
The study published today (click for PDF) finds that costs have fallen 30 percent from 1998 to 2009. The data, representing 70 percent of grid-tied solar electric installations across the U.S., shows that "dramatic" cost reductions are projected for 2010.
In the first ten months of 2010, the installed cost of solar PV systems fell by $1 per watt (DC), or a 14 percent drop in California, and by $1.2 watt in New Jersey, which a 16 percent reduction. California is by far the largest market for solar PV in the U.S. with about three quarters of installations, followed by New Jersey with 12 percent.
A solar photovoltaic array in Massachusetts.(Credit:SunRun)
In 1998, the cost to have solar panels installed was $10.8 per watt. The price from 2010 in California and New Jersey is about $6 per watt, although prices vary significantly from state to state, the study found.
Consumers in Germany and Japan, where there are large-scale solar manufacturing and government incentives, pay less than people in the U.S. In 2009, homeowners in Germany paid under $5 per watt installed while people paid about $6 a watt in Japan.
The costs in Germany and Japan suggest that further near-term cost reductions are possible, according to the Lawrence Berkeley Lab. That is significant because state and utility incentives, notably in California and New Jersey, are being scaled back.
The overall downward trend in prices suggests that the solar industry has been successful in introducing more competition to spur efficiencies in delivering product, the study finds.
An uncapped 30 percent federal tax credit for solar installations (hot water or photovoltaics) remains in effect until 2016. Rebate and tax credits from state programs vary, as does the money available from selling renewable energy certificates, credits sold for generating renewable energy. (See state incentive program information here.)
Another factor making solar PV more accessible is the growing number of financing options. Rather than pay the upfront cost, which can be between $25,000 to $40,000 upfront depending on size, installers now offer an option to lease panels with a monthly fee which is offset by lower electricity bills.
Powered by WizardRSS | Work At Home Jobs