Saturday, May 25, 2013

Solar Energy Price Trend

Solar capacity has been growing at staggering speed and the pride is dropping quickly. The industry has created a Swanson's law to predict this phenomenon. Swanson’s law, named after Richard Swanson, the founder of SunPower, suggests that the cost of the solar cells needed to generate solar power falls by 20% with each doubling of global manufacturing capacity. This year, the market is looking at US$0.74 per watt of solar energy. This means in sunny regions like California, solar power could already compete without subsidy with the more expensive parts of the traditional power market. Moreover, technological developments that have been proved in the laboratory but have not yet moved into the factory mean Swanson’s law still has many years to run.

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