Nov. 4, 2014: Solar Energy Prices See Double-digit Declines in 2013; Trend Expected to Continue
PV Pricing to Drop Another 3-12 Percent in 2014
GOLDEN, Colo. — Distributed solar photovoltaic (PV) system prices dropped by 12-19 percent nationwide in 2013, according to the third edition of a jointly written report on PV pricing trends from the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory (LBNL). In addition, 2014 prices are expected to drop another 3-12 percent, depending on system location and market segment. Industry analysts expect this trend to continue over the next couple of years.
“These price drops are consistent with previous annual reductions achieved since 2010, when the Energy Department’s SunShot Initiative was established,” said NREL’s David Feldman, a lead author of the report. “However, the report also indicates that there are significant variations in reported pricing both geographically and across market segments due to a variety of factors, including value-based pricing based on local competition within the marketplace and prevailing electric retail rates. Other factors include differences in specific system configurations such as panel efficiency, mounting structure, and geographic location; and the time lags between commitments and commercial operation for utility-scale systems.”