There are many reasons why solar panel prices are down so much. But technological advancements in solar panel technologies are certainly a big one. We wouldn’t be where we are today if it weren’t for the technological advancements made to solar cells and solar panels over the past couple centuries, and especially over the past few decades.
This infographic below, created by the folks at spheralsolar.com, certainly does a great job illustrating how much solar panel efficiency has improved since 1953 — 60 years ago. Solar efficiency records are actually set pretty much every month, so don’t expect that upward solar panel efficiency trend and downward solar panel price trend to change (well, actually part of this infographic is a projection to 2015).
Check out (and share!) the interesting infographic below, and be sure make note of the drop in solar panel prices, and note one thing — in the first quarter of 2013, the average price of a solar panel was already down to $0.64/watt, so this infographic was actually a bit pessimistic on the drop in solar panel prices! (By the way, I’ve got no idea why the men standing next to the solar panels are standing the way they are.)