
Solar panel prices fell by over 50% in 2023
This year saw record-breaking solar output and a 'momentous shift’ in battery production.

“A record year for solar power
China, Europe and the US each set solarinstallation records for a single year, according to the International Renewable Energy Agency (IEA).China's additions dwarfed those of all other countries, at somewhere between 180 and 230 gigawatts, depending on how end-of-the-year projects turn out. Europe added 58 gigawatts - a 40 per cent growth from 2022.
Solar is now the cheapest form of electricity in a majority of countries. Solar panel prices fell a whopping 40 to 53 per cent in Europe between December 2022 and November 2023 and are now at record lows.
“Particularly in Europe, it’s been really at breakneck speed of scaling up the deployment,” says Michael Taylor, senior analyst at the International Renewable Energy Agency (IRENA).“