How has solar photovoltaic power price evolved? — Plot #1
In fifty years, the price per Watt of solar photovoltaic power has fallen dramatically
In 1975, producing one Watt of electricity using photovoltaic solar panels cost $125. In 2022, producing one Watt of electricity using photovoltaic solar panels cost just $0.25. In almost fifty years, the price has been divided by 500.
A reduction by a factor of 500 is equivalent to a 99.8% reduction in price. Today, producing a Watt of electricity using photovoltaic solar panels costs just 0.2% of what it did fifty years ago.
Figure 1 shows that most of the gains took place before the 1990s, with the price divided by around 11 between 1975 ($125) and 1990 ($11.5).
However, the price continued to fall substantially after 1990. Figure 1 may give the impression of a stagnation, but this is misleading.
