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Wednesday, August 28, 2013
Solar Prices Continue Falling
It shouldn’t come as a surprise that the price of solar has been dropping. A new Tracking the Sun report from the Department of Energy Lawrence Berkeley National Labs (LBNL) confirms the trend: solar keeps getting cheaper.
According to the report, median installed prices fell by an average of $0.5/W (6-7%) annually between 1998 and 2012. That rate has accelerated recently, as seen in the drop of $0.3-0.9/W (6-14%) from just 2011 to 2012. Price drops like these have facilitated a more than fourfold increase in U.S solar installations between 2009 and 2012.