NC Sustainable Energy Association

Levelized Cost of Solar Photovoltaics in North Carolina

Levelized Cost of Solar Photovoltaics in North Carolina 2012

Solar Costs Drop as Conventional Energy Prices Continue to Rise
Published: February 29, 2012

The North Carolina Sustainable Energy Assocaition's 32-page report, “Levelized Cost of Solar Photovoltaics in North Carolina,” was released on Feb. 29, 2012. This detailed analysis considers multiple scenarios to understand the impact of system capacity, type of electric service provider, system ownership (residential or commercial) and state and federal tax credits. 

The study shows that conventional electricity costs for North Carolina residents and businesses have increased by an annual average of approximately 3 percent over the past decade. All the while, the national trend for the cost of solar photovoltaic (PV) panels and their subcomponents has declined by 37 percent from 2008 to 2010. The installed cost per watt (W) of solar PV in North Carolina has also decreased from $8.50/W to $5.44/W from 2006 to 2011. In all, that is a 36 percent drop in price, making solar power more accessible in our state.

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