History Of Solar Panel Price

The use of solar panels in the space program through the 1960s increased production and slowly the price reduced to around 100 per watt.

History of solar panel price.

Changes in solar panel cost over time can be explained by swanson s law which states that the price of solar pv modules decreases by about 20 percent for every doubling in global solar capacity the law is named after richard swanson founder of high. The term solar panel is used colloquially for a photo voltaic pv module. But the story is much larger than just that. Photo voltaic cells use sunlight as a source of energy and generate direct current electricity a collection of pv modules is called a pv panel and a system of panels is an array.

But in the next decades the federal government was more involved with solar energy. Since the year 1980 solar panel prices have dropped by at least 10 percent every single year. A pv module is an assembly of photo voltaic cells mounted in a framework for installation. Elliot berman s research in the 1970s which produced a less expensive solar cell and brought solar panel cost down to about 20 per watt.

Today a solar panel can cost as little as 0 50 a watt. Growth slowed in the 1980s due to the drop in traditional energy prices. In 1956 solar panels cost roughly 300 per watt. The price decreases over the past ten years are a major reason why homeowners are increasingly interested in installing solar panels.

Since the beginning of life on earth the sun has been the ultimate source of all energy.