When the Department of Energy set its $1-per-watt SunShot goal in 2011, it was a reach.
But deep price cuts and a rapidly maturing market meant the U.S. achieved its aim years earlier than expected. Though prices have since boomeranged back above the $1 mark, they’re set to dip again before the targeted 2020. Prices in countries across the globe have taken a similar nosedive.
According to two new reports from GTM Research, that trend is set to continue.
“In a relatively short period of time, without what many would call any sort of major disruptive technology advancements, the industry has matured to achieve these drastic cost reductions,” said GTM Research Solar Analyst Ben Gallagher.