Cost Of Installed Solar Photovoltaic Systems Drops Significantly Over The Last Decade

Photovoltaics (PV) is the field of technology and research related to the application of solar cells for energy by converting sunlight directly into electricity. Due to the growing demand for clean sources of energy, the manufacture of solar cells and photovoltaic arrays has expanded dramatically in recent years.Photovoltaic production has been doubling every two years, increasing by an average of 48 percent each year since 2002, making it the world’s fastest-growing energy technology. At the end of 2007, according to preliminary data, cumulative global production was 12,400 megawatts. Roughly 90% of this generating capacity consists of grid-tied electrical systems. Such installations may be ground-mounted (and sometimes integrated with farming and grazing) or built into the roof or walls of a building, known as Building Integrated Photovoltaic or BIPV for short.[...]

Cost Of Installed Solar Photovoltaic Systems Drops Significantly Over The Last Decade: Researchers report that records from a decade's worth of solar power installations indicate that overall costs have declined significantly because of decreases in associated expenses such as labor and overhead -- most likely because of federal, state, and local support for solar photovoltaic systems.[...]