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July 14th, 2017 at 8:49 am

Solar costs are hitting jaw-dropping lows in every region of the world

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How low can you go? Mind-blowingly low 65-cents-per-watt solar system pricing emerges in India.

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This may sound a little repetitive, but it’s impossible to ignore: The decline in solar costs is not slowing down.

GTM Research expects a 27 percent drop in average global project prices by 2022, or about 4.4 percent each year. Those improvements are not limited to the U.S. They are occurring globally, and in some cases resulting in even sharper price declines than those America is experiencing.

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The data comes from a new PV system pricing forecast from GTM Research Solar Analyst Ben Gallagher.

The plunges in system pricing won’t just come from modules — they’ll come from reductions in inverters, trackers and even labor costs. And every region will benefit.

“Component prices are beginning to lose their price variance from country to country,” writes Gallagher. “Beyond a handful of local content requirements, many of the policies that created regional hardware pricing have been eroded by market forces.”

Via Greentech Media

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