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

Clean Energy Finance calculates the price of systems will fall by 10% thanks to cheaper raw materials and more production in China and US

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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 Clean 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) per watt as of last month.