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Residential Solar Costs Decline, Installations Rise, Report Confirms

01.01.70

 As we near the end of a tumultuous year for solar PV, the latest report from GTM/SEIA indicates there is more momentum that ever for residential solar. A number of factors - the growth in solar leases, the glut in global panel production, and the complex web of economic incentives - have already made this the strongest year in US history for solar PV installations. Much of the buzz around solar has focused on Solyndra and government loan guarantees, or Solar World and Chinese panel dumping. Despite the likely expiration of the highly successful federal 1603 Treasury grant, which has leveraged over $22 billion in private capital, there is much to be excited about looking forward for residential solar.

After two quarters of declining growth, residential installations grew by 21% heading into the final quarter of 2011. Even though this figure lags behind the overall market growth (38%), it is still an indication that the drop in costs of going solar has driven installations among homeowners. The average cost of residential installations has dropped from $6.41/watt to $6.24/watt in the course of less than one year, though residential systems in stronger markets like California and New Jersey dropped to or even below $5/watt.

Source: Energy Collective