The Fourth Wave of Solar System Price Drops
The U.S. solar equipment market has entered its fourth phase of price reduction, according to market research firm GTM Research. The first phase was characterized by major year-over-year cost reduction in modules; the second saw balance-of-systems hardware cost reduction; the third set of price reductions was due to module competition; and the fourth now see slower annual price reductions. As suppliers try to reduce soft costs, prices will drop 32% from the second half of 2017 to 2022.
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