According to a report released by the Solar Energy Industries Association and Wood Mackenzie, 2021 was the first year in which solar prices rose across residential, commercial, and utility-scale since 2014 when Wood Mackenzie began tracking the data. According to the report, in some portions of the solar industry, prices increased to almost 18%.
Lower costs have been a critical driving force behind solar adoption, but in 2021 prices jumped on broad economic challenges, including supply chain constraints. In addition to supply chain bottlenecks, trade actions and policy uncertainty also weighed on the sector, the report said.
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