Renewables more affordable? The price of solar is declining to unprecedented lows
/Despite already low costs, the installed price of solar fell by 5 to 12 percent in 2015
ROBERT FARES, SCIENTIFIC AMERICAN
The installed price of solar energy has declined significantly in recent years as policy and market forces have driven more and more solar installations.
Now, the latest data show that the continued decrease in solar prices is unlikely to slow down anytime soon, with total installed prices dropping by 5 percent for rooftop residential systems, and 12 percent for larger utility-scale solar farms. With solar already achieving record-low prices, the cost decline observed in 2015 indicates that the coming years will likely see utility-scale solar become cost competitive with conventional forms of electricity generation.