The cost of solar photovoltaic systems continued to decline in 2012, contrary to the expectations of many. The median installed price of PV systems in California, both residential and commercial, dropped between 3% and 5% during the first half of 2012, following reductions of 11-14% in 2011.
According to a press release from the Coalition of American Solar Manufacturing, U.S. imports of crystalline silicon solar cells from China also fell to their lowest levels in two years, despite a peak year-end season in 2012. In November, total Chinese imports reached $50.5 million, down from $75 million in October. This is a significant drop from the $278 million total in October 2011.
It might be a shock to many (but not others) that solar prices are continuing to decline year after year, even with a drop in imports of cheap solar panels from China, but it is also offering one heck of an incentive to start planning a solar strategy for your home or office. Do you have any intention of “going solar” over the next few years?
Images CC licensed by Thomas Galvez: Installed solar panels