The decrease in solar module prices is causing a drop in solar installation costs - this is creating a tipping point for the renewables and distributed generation.
Falling module prices are seeing a reduction in the cost of solar installations. The cost of installing photovoltaic solar arrays has dropped to US$3 per watt of electricity- this is about the same it would cost to build coal-powered plants.
Due to the reduction in solar installation costs, balance of system (BOS) components like racking and mounting are key targets of cost reduction, as distributed generation system prices fall by between 15% and 30% by 2020, depending on geography, says Lux Research.
Along with continuing module efficiency improvements, these advances will make the levelized cost of electricity (LCOE) for solar between $0.04/kWh and $0.08/kWh cheaper in 2020 than it is currently.
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