by Adam English, Outsider Club:
It’s happening fast.
Ten years ago the solar industry only dreamed of producing solar panels for $1.00 per watt.
In just five years, those prices had been cut in half to about $0.50 per watt.
And today major producers like Yingli Green Energy (NYSE: YGE) and Trina Solar (NYSE: TSL) are making solar panels for $0.40/watt or less.
Those are prices just for the solar panel.
But total prices for installed solar systems are falling as well.
It cost about $8.00 per watt to put solar on your home in 2006. Today it costs about $3.50 — a 56% reduction in 10 years. Only 33% of that cost, though, is for solar panels, with nearly two thirds of the cost going toward on-site labor, engineering, and permitting.
On the utility side, solar is even cheaper. And getting cheaper faster.
Research out last week from Greentech Media shows costs for utility-scale solar installations fell by 17% just in 2015, and can now be installed for $1.33 per watt.
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