US: Solar now costs 6¢ per kilowatt-hour, beating government goal by 3 years

On Tuesday, the Department of Energy (DOE) announced that utility-grade solar panels have hit cost targets set for 2020, three years ahead of schedule.

Those targets reflect around $1 per watt and 6¢ per kilowatt-hour in Kansas City, the department's mid-range yardstick for solar panel cost per unit of energy produced (New York is considered the high-cost end, and Phoenix, Arizona, which has much more sunlight than most other major cities in the country, reflects the low-cost end).

The National Renewable Energy Laboratory (NREL), a DOE-funded lab that assesses solar panel cost, wrote that, compared to the first quarter in 2016, the first quarter in 2017 saw a 29-percent decline in installed cost for utility-scale solar, which was attributed to lower photovoltaic module and inverter prices, better panel efficiency, and reduced labor costs.

NREL's report reflects that hardware cost has come down dramatically, while "soft" costs like labor and overhead now make up the bulk of the price tag for new solar projects.

Currently the International Trade Commission (ITC) is considering a complaint from two US-based solar module manufacturers who say that foreign-made panels are unfairly driving down the price of panels in the US and threatening their business.

UCJ, UNILORIN.