US solar power costs fall 60% in just 18 months

first_imgUS solar power costs fall 60% in just 18 monthsThe cost of solar power in the U.S. is now 60% cheaper than it was in early 2011, according to a joint report by the U.S. Solar Energy Industries Association (SEIA) and GTM Research. September 20, 2013 Ian Clover Manufacturing Markets Markets & Policy Share The latest quarterly report from SEIA and GTM Research has revealed that solar panel costs in the second quarter of 2013 were down by 60% on the first quarter of 2011. Overall, solar PV system prices have fallen by an average of 40% during that same period, and by as much as 50% when compared to 2010 prices, according to the report. “Quarter-over-quarter, the national average price declined by 9.3% from $3.36/W to $3.05/W, while dropping 11.1% from $3.43/W one year ago,” states the SEIA report. “From Q2 2012 to Q2 2013, residential system prices fell 11.5%… and non-residential system prices fell 14.7%. During the same period, installed costs decreased by 5.4%.” The report added: “States with SREC markets, such as New Jersey and Delaware, saw significant price declines since installers must continue to keep margins razor-thin given low SREC prices.” In tandem with the continuing price falls, the U.S. solar industry continues to expand at near-record rates. The second quarter of 2013 was the second-largest quarter in U.S. solar history (trailng Q4’12), with 832 MW of power installed. As a result of this growth, the country is on course to surpass 10 GW by the end of the year, with enough solar power installed to power 1.5 million homes – the equivalent of the fifth- and sixth-largest cities in the country, Philadelphia and Phoenix.Popular content The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. 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Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. The re… Solar park built on rough wooden structures comes online in France Gwénaëlle Deboutte 26 April 2021 pv-magazine.com French company Céléwatt energized its 250 kW ground-mounted array, built with mounting structures made of raw oak wood.April 26, 2021 Gwénaëlle Debo… Spanish developer plans 1 GW solar plant coupled to 80 MW of storage, 100 MW electrolyzer Pilar Sánchez Molina 22 April 2021 pv-magazine.com Soto Solar has submitted the project proposal to the Ecological Transition and the Demographic Challenge (Miteco). The solar plant could start produc… We all trust the PV performance ratio test Dario Brivio, Partner 20 April 2021 pv-magazine.com The performance ratio test is at the core of the handover from EPC to owner. Yet sometimes, even when best practice is applied – and without particul… The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… 123456Share Ian Clover Ian joined the pv magazine team in 2013 and specializes in power electronics (inverters) and battery storage. Ian also reports on the UK solar market, having worked as a print and web journalist in Britain for various multimedia companies, covering topics ranging from renewable energy and sustainability to real estate, sport and film.More articles from Ian Clover [email protected] Related content The weekend read: PV feed in, certified pv magazine 1 May 2021 pv-magazine.com As more renewable energy capacity is built, commissioned, and connected, grid stability concerns are driving rapid regulatory changes. Meyer Burger unveils 400 W heterojunction solar module Emiliano Bellini 28 April 2021 pv-magazine.com The solar module will be available in three versions – white, black, and glass-glass. 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