WoodMac: Solar and Storage Prices Falling Faster Than Expected Due to COVID-19

By [email protected] The fallout from the coronavirus pandemic and the looming threat of recession are expected to drive down pricing for front-of-the-meter solar and storage systems even faster than expected.

Project construction delays and tightening consumer spending will drive down storage and electric vehicle demand, according to Wood Mackenzie. This in turn will cause U.S. front-of-the-meter (FTM) storage system costs to decline more rapidly than previously forecast.

At the same time, WoodMac finds, solar PV system costs in the U.S. are falling faster than anticipated across all market segments.

Declines in FTM solar system costs are primarily being driven by module price reductions, which are

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