Solar Energy Prices See Double-digit Declines in 2013

Distributed solar photovoltaic (PV) system prices dropped by 12% to 19% nationwide in 2013, according to a new joint report from the Energy Department's National Renewable Energy Lab (NREL) and Lawrence Berkeley National Lab (LBNL). In addition, 2014 prices are expected to drop another 3% to 12%, depending on system location and market segment.

Industry analysts expect this trend to continue over the next couple of years, keeping the nation on track to meet the Energy Department's SunShot Initiative's 2020 targets. The report, Photovoltaic (PV) Pricing Trends: Historical, Recent, and Near-Term Projections (2014 Edition), provides a high-level overview of historical, recent, and projected near-term PV system pricing trends in the United States. The report shows that the general downward trend in PV system pricing is expected to continue through 2016.

The report was produced as part of an ongoing collaborative research effort between the 2 labs focused on solar technology system-level cost analysis and modeling. It draws on several ongoing research activities at LBNL and NREL. The research was supported by EERE. See the NREL news release and the SunShot Initiative website.

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