Friday, October 30, 2009
30% decline in cost of solar photovoltaics (pv) in past decade
ten year trends in the solar photovoltaic (pv) sales have shown drastic decline in cost, making solar technologies much more affordable to you and i.
the average cost of pv technologies was $12.30 per watt in 1998 compared to $8.50 per watt in 2008. over this period, the average annual reduction was $0.40 per watt. pretty astounding and encouraging.
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this is great progress but solar electric is still way behind (by maybe 3x) solar hot water in terms of cost per equivalent output (watt / btu's). if you have a natural gas water heater and your electricity is generated from coal, cost may not be the only consideration...
for most people, it makes sense to pursue solar hot water first, then solar electric (based on cost per btu / watt only). this is especially true if you have an electric hot water heater.
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