US solar system prices fell 17% in 2015, finds GTM

A newly published report by GTM Research and the Solar Energy Industries Association (SEIA) titled U.S. Solar Market Insight 2015 Year in Review has revealed that solar system costs fell by 17% across the U.S. last year.

With residential solar prices hitting a new record low of $3.50 per watt, solar’s increasing affordability is helping to drive installation rates, compelling GTM Research to forecast 2016 to be the strongest year yet for the solar industry, topping 16 GW of new capacity.

This latest report shows that – of the various solar sectors in the U.S. – the utility fixed-tilt segment recorded the sharpest price reduction. All sectors, however, posted encouraging cost falls, averaging 10% in the non-residential rooftop sector and 17% in the utility sectors (which includes utility tracking installations).

For residential rooftop solar there was a slight leveling-off in cost reductions towards the end of the year, the study found, citing the "stubbornness" of residential soft costs and strong investment in customer acquisition, which served to prop-up prices somewhat. (by IAN CLOVER, PV Magazine)