>"This means that the decline in installed cost observed since 2012 was largely caused by a decline in the cost of the inverters that convert the DC power produced by solar panels to AC power for the grid and other “soft” costs such as customer acquisition, system design, installation, and permitting."
On another note, calculating the payback of residential solar panels is tricky because many online calculators don't consider:
- inverters failing and needing to be replaced (~10 years?)
- bank of backup batteries need to be replaced (~10 years?)
- significant increased labor costs of replacing the roof or repair roof leaks (roofers must spend extra time unmounting all panels before replacing shingles or tiles.)
- paying a service to clean the panels if the house is in a dusty climate and the homeowner doesn't want to climb on the roof and do it himself
One can lump all those negative costs into one bucket called "ongoing maintenance" to simplify things but nevertheless, it doesn't seem like many ROI calculators properly account for them.(That said, some people pay the premium for solar panels to gain power autonomy which overrides any over-optimistic estimates of installation payback.)