SolFarm Solar Co.

  • About Solfarm
    • About Solfarm Solar Co.
    • Meet Our Team
    • Featured Projects
    • Employment Opportunities
  • About Solar Energy
    • Why Go Solar
    • How Solar Energy Works
    • Solar Energy FAQ
  • Services
    • Residential Solar
    • Commercial Solar
    • Non-Profit Solar Energy
    • Battery Backup Power
    • Smartflower
    • Removal & Re-Installation
    • Solar Energy Maintenance
    • Microgrids
    • EV Charging Stations
  • Financing, Incentives & Rebates
    • Solar Energy Financing
    • South Carolina Savings
    • USDA REAP Grants & Loans
  • Blog
  • Contact
REQUEST A QUOTE
  • Home
  • News
  • Policy
  • Four Decades of Dropping Solar Prices Explained
Wednesday, 09 January 2019 / Published in Policy, Solar Energy

Four Decades of Dropping Solar Prices Explained

Did you know the price of solar energy has dropped 99% since its major debut four decades ago?!  A recent analysis by MIT researchers contributes this radical reduction in pricing to not only innovations in technology but also, and mostly, to government policy.

Solar energy, not unlike most technologies, has benefited greatly from the common contributors: research and development, private investment, and growing economy of scale. Researchers found that private investment and R&D only got the technology so far in its early years. It wasn’t until policy began stimulating market growth that solar energy really began to advance. Policy changes included renewable portfolio standards, feed-in tariffs and subsidies. With government invested in the growth of solar energy technology R&D funding followed; this funding accounted for even more reduction in costs.

Now, with a much larger economy of scale, manufacturers had the financial means to push the limits and reach for greater efficiencies from the many pieces of equipment used in solar energy systems. Solar panels themselves continue to become more energy dense; capable of capturing more energy given a smaller surface area. Inverters are nearing 100% efficiency and utility grids are adapting to make better use of distributed energy sources.

With these findings it is easy to see how policy can play a critical role in the progress of technology. Researchers feel that there is still more to come for the solar industry and see potential for continued advancements in the technology and also further reductions in costs.

To read the article in full please follow the link:
https://www.sciencedaily.com/releases/2018/11/181120073818.htm

What you can read next

Energy Consumers Can Help Save the Earth Too
EV charging infrastructure
EV Market Growth and Infrastructure Expansion
SolFarm Solar Co. Asheville, NC Solar energy installation installer
Sustainable Design Pro: Kelly Gloger

Newsletter Signup

Join our mailing list to stay up to date on SolFarm blog posts and events

Search for posts

Recent Posts

  • OpenSolar Test Lead Form

  • SolFarm partners with non-profits to train and employ individuals from economically marginalized communities

  • EV charging infrastructure

    EV Market Growth and Infrastructure Expansion

  • Solar shingles

    Solar Shingles – Worth the Hype?

  • Enphase Ensemble and microinverter

    IQ8 Microinverter and the all new Ensemble by Enphase

  • Fossil Fuel pollution

    Mammoth Fossil Fuel Subsidies

  • Residential solar panels

    Solar Panels Increase Home Resale Value

  • DC’s Ambitious Clean Energy Requirement

  • solfarm solar co barn usda rural renewable energy

    USDA Grants & Loans For Renewable Energy & Energy Efficiency

  • SolFarm Solar Co residential solar installation

    NC Solar Access Laws – Your Right to Solar Energy

  • Australia battery subsidy

    Australia Offering Battery Subsidies

  • Green Neighborhoods list 2018

    Green Neighborhoods

  • coastal flooding caused by climate change

    Coastal Flooding Projected To Rise

  • Residential solar energy pv system array

    Solar Tariffs Less of a Threat Than First Predicted

  • NAACP Fumes Across Fence Line

    Environmental Injustice

  • Landfill brownfield image

    Trash to Solar

  • Craft brewers go solar

    Craft Brewers Going Solar

  • Texas wind turbines

    Solar Trumps Coal Environmentally and Economically

  • Oil pipeline

    Environmental Activist Desperate for Change

  • Commercial rooftop solar energy pv installation array Greenville, SC Greenville County

    Industry Starts to See the (Sun)light

Recent Comments

    • Read more + April 12, 2022 By solfarm in Uncategorized

      OpenSolar Test Lead Form

    • Read more + May 26, 2021 By solfarm in Solar Energy, Solfarm News

      SolFarm partners with non-profits to train and employ individuals from economically marginalized communities

    • EV charging infrastructure Read more + March 5, 2020 By solfarm in Climate Change, Policy

      EV Market Growth and Infrastructure Expansion

    • Solar shingles Read more + January 6, 2020 By solfarm in Solar Technology

      Solar Shingles – Worth the Hype?

    • Enphase Ensemble and microinverter Read more + July 18, 2019 By solfarm in Solar Technology

      IQ8 Microinverter and the all new Ensemble by Enphase

    • Fossil Fuel pollution Read more + June 7, 2019 By solfarm in Policy

      Mammoth Fossil Fuel Subsidies

    • Residential solar panels Read more + May 21, 2019 By solfarm in Solar Energy, Solar News

      Solar Panels Increase Home Resale Value

    • Read more + February 8, 2019 By solfarm in Climate Change, Policy, Solar News

      DC’s Ambitious Clean Energy Requirement

    • solfarm solar co barn usda rural renewable energy Read more + December 12, 2018 By solfarm in Solar Energy, Solar News

      USDA Grants & Loans For Renewable Energy & Energy Efficiency

    • SolFarm Solar Co residential solar installation Read more + November 29, 2018 By solfarm in Policy, Residential Installation, Tips and Tricks

      NC Solar Access Laws – Your Right to Solar Energy

    SolFarm Solar Co logo white

    SolFarm offers full-service solar installation for Residential and Commercial customers. We have a team of certified solar professionals ready to work with you in designing your new system. SolFarm is committed to the relationship we start building at the initial consultation. We will be with you in every step of the installation process and beyond.

    Contact SolFarm Solar Co.

    ASHEVILLE OFFICE PHONE:

    (828) 332 - 3003

    info@solfarm.com

    ASHEVILLE OFFICE ADDRESS:

    739 Glenn Bridge Rd
    Arden, NC 28704

    TOP