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The Guardian - AU
The Guardian - AU
National
Peter Hannam

Australia set for cheaper solar power as supply of panels soars, says report

United States Australia Tim Buckley China Renate Egan Electricity
China factory gate solar panel prices are 15% lower than last year, meaning a big saving on installations.
China factory gate solar panel prices are 15% lower than last year, meaning a big saving on installations. Photograph: David Mariuz/AAP

Australians could soon start to benefit from cheaper solar panels as a dive in raw material costs and a “boom” in global output delivers annual solar electricity price falls of 10% for the rest of the decade, according to a report by Climate Energy Finance.

The Solar Pivot report by analysts Tim Buckley and Xuyang Dong said prices of polysilicon used to make the wafers in panels have fallen by two-thirds in 2023, sending panel prices down to US18c (A26.7c) a watt as of last month.

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