Unexpectedly Varied Innovations Result in Significantly Lower Solar Panel Costs

Posted in

August 11, 2025

Unexpectedly Varied Innovations Result in Significantly Lower Solar Panel Costs

A new MIT study reveals that the cost of solar panels has plummeted by over 99% since the 1970s, largely due to innovations spanning various industries, including semiconductor fabrication and metallurgy. The research, which could guide renewable energy companies and policymakers in effectively directing R&D investments, identified 81 unique innovations that contributed to this dramatic reduction in costs. Notably, the study emphasizes the interconnectedness of advancements across sectors, showcasing how breakthroughs in software and engineering from outside the solar industry have played a crucial role in reducing both photovoltaic (PV) and balance-of-system (BOS) costs. Future analyses may explore these connections further, as well as the impact of emerging technologies like AI and robotics on further cost reductions.

Original source:

https://climate.mit.edu/posts/surprisingly-diverse-innovations-led-dramatically-cheaper-solar-panels

Unexpectedly Varied Innovations Result in Significantly Lower Solar Panel Costs

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