NREL: Cost declines for installation of solar PV systems

GOLDEN — The cost to install solar photovoltaic systems continued to decline in the first quarter of 2016 in the U.S. residential, commercial and utility-scale sectors, according a report released Wednesday by the Energy Department’s National Renewable Energy Laboratory in Golden.

Costs for first quarter 2016 were down from the fourth quarter 2015 by 6 percent, 4 percent and 20 percent in the residential, commercial and utility-scale sectors, respectively.

The costs fell to $2.93 per watt of direct current for residential systems, $2.13 per watt of direct current for residential systems, and $1.42 per watt of direct current for residential systems for fixed-tilt utility-scale systems, and $1.49 for one-axis-tracking utility-scale systems.

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The report said driving the cost reductions were lower module and inverter prices, increased competition, lower installer and developer overheads, improved labor productivity and optimized system configurations.

The full technical report can be found here.