Equipment prices for solar PV technology fell by 80% between 2009 and 2015

Reading time: 2 minutes
23 March 2017

Source: IRENA, The Power to Change: Solar and Wind Cost Reduction Potential to 2025

Solar photovoltaic (PV) modules have rapid deployment: there was around 40% growth in cumulative installed capacity in each of 2012 and 2013 and around 30% in 2014 and 2015.

These factors resulted in PV module prices declining by around 80% between the end of 2009 and the end of 2015.

The global weighted average total installed cost of utility-scale solar PV projects declined by around 56% between 2010 and 2015.

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