Climate
Verified dataSolar panels are about 500 times cheaper than in 1975
The price of a solar panel, per watt of capacity, has fallen 99.8% since 1975 — one of the fastest sustained cost declines of any technology.
Adjusted for inflation, the price of a solar module fell from about $128 per watt in 1975 to roughly $0.26 per watt in 2024 — a drop of 99.8%, or about 500-fold.
Key findings
- The price of a solar module fell from about $128 per watt in 1975 to roughly $0.26 per watt in 2024 — a 99.8% drop.
- That is roughly a 500-fold decrease, sustained for nearly five decades.
- On a logarithmic scale the fall is close to a straight line — the steady trend often called 'Swanson's law'.
Explore the data
Coverage: Jan 1, 1975 – Dec 31, 2024 · World
Sources
Primary source
International Renewable Energy Agency (IRENA)
via Our World in Data
Solar photovoltaic module prices
Accessed Aug 14, 2026
Compiled by Our World in Data from IRENA (2025), Nemet (2009), and Farmer & Lafond (2016). Constant 2024 US$ per watt.
Methodology
Solar photovoltaic module prices in constant 2024 US dollars per watt (adjusted for inflation), 1975–2024, shown on a logarithmic scale. Data are compiled by Our World in Data from IRENA (2025), Nemet (2009), and Farmer & Lafond (2016).
What this does not show
This is the price of the solar module (panel) alone — not the full installed-system cost, which also includes inverters, mounting, wiring, labour and permits. It is the price per watt of capacity, not the cost of the electricity generated, and it is a global benchmark rather than any single market.
Creator
Reuse this visualization
Attribution
Graphic by Mara Ellison, using data from International Renewable Energy Agency (IRENA)
License: CC BY 4.0
Embed code
<figure style="margin:0;max-width:1600px">
<a href="https://chartive.org/visualizations/solar-panel-prices-1975-2024" target="_blank" rel="noopener">
<img src="https://chartive.org/infographics/solar-panel-prices-1975-2024.png" alt="Line chart on a logarithmic scale showing the price of solar photovoltaic modules falling from about $128 per watt in 1975 to about $0.26 per watt in 2024." width="1600" height="2133" style="max-width:100%;height:auto" />
</a>
<figcaption style="font:14px/1.4 system-ui,sans-serif;color:#57534e;margin-top:8px">
Graphic by Mara Ellison, using data from International Renewable Energy Agency (IRENA) — via <a href="https://chartive.org/visualizations/solar-panel-prices-1975-2024" target="_blank" rel="noopener">Chartive</a>
</figcaption>
</figure>Reuse is welcome — the embed keeps a link back to the source.