Solar panels are as cheap as they’ve ever been, and according to Lux Research the costs of producing solar modules, which make up solar panels, will also continue to fall. It needs to for some of the solar manufacturers to survive.
By 2017, solar modules could cost below 50 cents to produce, says Lux. They are as low as 70 cents per watt now. The lowest costs will be for solar modules made from thin film solar panels of cadmium telluride, particularly the kind made by First Solar. Modules made of copper indium gallium (di)selenide, or CIGS — a lot of startups developing CIGS have struggled to reach commercialization — could reach 64 cents per watt to produce by 2017.
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