Quarterly PV multi module prices in the U.S. 2016-2020

The price of solar photovoltaic modules in the United States has seen a fairly consistent decrease over the last few years. In the third quarter of 2020, U.S. multi module prices averaged 0.19 U.S. dollars per watt, in comparison to 0.63 U.S. dollars per watt in the first quarter of 2016.

Decline in solar pricing

Solar system pricing has fallen in all markets, including residential, non-residential, and utility markets. The decline is largely due to declining hardware costs, primarily from lower module prices. The oversupply of modules due to decreasing demand from China lowered module prices; in turn, this has helped to alleviate the tariffs that were implemented on Chinese module exports to the United States.

Solar price variations

Solar photovoltaics prices in the U.S. are consistently low, in comparison to many other countries. The price of solar in U.S. states can also vary, mostly due to the cost of electricity. The components that are used in solar energy systems may also impact the price of solar photovoltaics. Falling global demand, high supply levels, and the resulting bidding competition have also pushed prices lower.