For those of us holding out for reduced prices on solar panels, you might be wondering… how cheap can solar power get?
Well, brace yourselves for this amazing news. The U.S. Department of Energy (USDOE) unveiled a new program this year that promises to reduce the price of solar energy to about $1 per watt b7 2017, and even further to 73 cents by 2030. Through SunShot, the total cost of solar power can be reduced by more than 2/3 of current prices which average $3-4 per watt for fully installed solar panel arrays.
According to the official website:
Currently, PV solar panels cost about $1.48 per watt. So, solar panel modules will have to drop at least 50 cents to reach the $1 per watt goal of SunShot. In addition, installation and other costs will have to be slashed to a quarter of what they are today.
The SunShot Initiative accelerates and advances existing DOE research efforts by refocusing its solar energy programs — valued at approximately $200 million per year — to make large-scale solar energy systems cost competitive without subsidies by the end of the decade.
The DOE’s SunShot program helps reduce solar panel costs by focusing on the overall cost of an installed solar system, with an eye to improve efficiency of solar cells and also cut installations and permitting costs. And when you think that the cost of solar panels has been drastically reduced since 1980 from over $21 per module to a mere $3-4 each, cheap solar power is something we should all be considering tapping into.
Cheap solar power is certainly worth our tax dollars, don’t you think? The sooner we can get down to or below $1 per watt for solar energy, the better.
What are your thoughts? Please share below.