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An obscure provision in the stimulus act has led to a dramatic decline in the cost of small-scale solar power installations, according to researchers at Lawrence Berkeley National Laboratory.
According to the report (warning: HUGE PDF), a key factor pushing down solar costs was the removal of a $2,000 cap on federal investment tax credits for installations. The provision, part of the American Recovery and Reinvestment Act, let to a 24% decline in the average net installed cost for residential solar systems.
But that’s not the only thing contributing to the decline in solar costs. Some other findings:
Full disclosure: I’m neither an economist nor an expert on solar power, so I welcome additional insights from the report.
(Photo by r_neches via Creative Commons)