Solar panel prices have dropped significantly over the last decade, but many homeowners still ask: Will solar panels come down in price further? The answer depends on a mix of global manufacturing trends, government policy, and long-term supply chain shifts.
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What’s Driving Solar Panel Prices?
The price of solar panels is influenced by:
- Raw materials: Prices of silicon, silver, and aluminium impact manufacturing costs.
- Global demand: As more countries push renewable energy, demand can push prices up.
- Manufacturing scale: Larger, more efficient factories help lower costs over time.
- Government incentives: Subsidies or tariffs can either reduce or increase retail costs.
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Historic Price Trends
Over the last 10 years, solar panel costs have fallen by over 80%.
This was mainly due to:
- Improved manufacturing processes
- Economies of scale in countries like China
- Strong competition across the industry
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But this pace of price drop is slowing. Panels are now much cheaper to produce, meaning future savings will be smaller.
Are Prices Still Falling?
In 2024 and 2025, global reports suggest prices are relatively stable, with minor reductions possible depending on supply chain improvements. The steep declines seen in the 2010s are unlikely to continue at the same rate.
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Will Solar Panels Get Cheaper in the UK?
UK solar panel prices could come down slightly, especially if local installation competition grows or import taxes are adjusted. However, the biggest factor in pricing is usually the installation cost, not just the panel.
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What to Watch:
- Energy policy shifts
- Tech innovation (e.g., perovskite cells)
- Changes in battery storage pricing
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Should You Wait for Cheaper Panels?
If you’re hoping to save by waiting, it might not pay off. Even if prices drop slightly, you lose time generating your own power and saving on energy bills. Solar panels already pay back over time, and delaying could reduce your long-term return.
Final Thoughts
Solar panels may come down in price—but slowly. The most dramatic savings have already happened. What matters more now is getting the right system, quality install, and taking advantage of existing finance options or grants.
Ready to go solar?
FAQs: Will solar panels come down in price?
Possibly, but only slightly. Most of the big price drops already happened between 2010 and 2020.
Installation, labour, scaffolding, and inverters often make up more of the cost than the panels themselves.
Sometimes. Lower-cost panels may have shorter warranties or less efficiency, so it’s important to balance price with performance.
Yes. More subsidies can make panels more affordable by reducing upfront costs.
Panel-only bulk buys are cheaper per unit, but most UK customers get full installations which involve other fixed costs.
Not directly, but high energy bills can make solar panel investment more appealing, increasing demand.
Yes, advances like perovskite solar cells could lower future prices, but they’re not mainstream yet.
Buy now if you want to save on bills immediately. Waiting could cost more in missed savings.
Yes, battery prices are expected to fall over time, especially as production scales up.
Compare multiple solar quotes and check that installers are MCS certified with clear warranties.
