
6 Project development in the solar industry
Prices of photovoltaic panels, also known as PV panels, have decreased signifi-
cantly just over the last few years. PV panels represent the largest percentage of a
project’s cost and their decreased cost correlates to the ability to offer electricity to
utilities at a more competitive price. PV panel price reduction results from several
key factors: increased supply to the market due to increased manufacturing capacity,
alternative technology options that are less dependent on silicon material in PV
products (i.e. new thin film and concentrating photovoltaic), increased efficiencies
PV panels and improved ...