Are Solar Panels Cheaper Than They Were 10 Years Ago

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.

Are solar panels cheaper than they were 10 years ago.

Solar power has gotten dramatically cheaper in the past 10 years and is absolutely expected to continue to get cheaper. In fact it s expected to steadily drop in price through the year 2050. Install your solar panels now especially because tax credits do expire. When it comes to making the choice on which panels to buy it is important to remember that most affordable does not necessarily mean cheapest.

This trend of lower costs and better interconnection shows no sign of slowing. Today renewable energy is so cheap that the handouts. They were too expensive the argument went to build without government handouts. And because the price will always be dropping there s really no point in waiting because there s no bottom price in sight.

The reason for the falling price is written in little letters on the back of the panels going up on john s roof. Since then prices have fallen and today solar power is cheaper than coal. Just a few years ago panels were five times as expensive as they are today. Solar panel technology has been around in some form for a long time bell labs invented the first useful solar cell more than 60 years ago and scientists have known for centuries that the sun.

While buying a solar installation might ve been only for the well to do just a decade ago with today s low prices and great financing options anyone can install solar and save some money on their energy bills. Today the cost of solar panels is roughly 100 times cheaper than it was in the mid 1970s certified solar installation companies are plentiful and utility companies all over the country work with homeowners to make solar installation easy. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels. When it was first introduced solar power was so expensive that it was a punchline in the energy business.