Prior to the solar boom in 2008 solar cost were as high as $15 to $20 per watt and was really only taken up by the early adopters with greater economic means. The popularity of solar has been driven in part by the decreasing costs and also by a fantastic federal STC scheme which offers up to 40% of the cost of the system via a central authority incentive. With over 300,000 installs last year, residential solar is now judicious a mass market product. The below table specializes in the adjustments we’ve seen over the last 5 years as solar prices have persevered to lower dramatically as solar panel and inverter brands reached economies of scale with creation. Many people in the solar industry expect the cost of solar approaches to proceed to decline, albeit at a much slower pace.
Manufacturers proceed to progressively release improvements in cell efficiency and panel designs which are now edging most popular Solar Panels in opposition t 500W of power. However a lot of the early step change efficiencies of construction have already been achieved in robotic driven factories of enourmous scale. Additionally in Australia the STC rebate reduces annually until it is scheduled to phase out absolutely in 2030. This upward driver in solar prices has led to pricing level out over the last 12 months which might be seen in the above graph.