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6.1.3 TOTAL INSTALLED COSTS The rapid decline in PV module prices and BoS costs in some countries has led to significant declines in the installed costs of PV systems. German residential systems have fallen from around USD 7/W (USD 7 000/kW) in the second quarter of 2008 to just USD 2.2/W in the second quarter of 2012 (Figure 6.6). In contrast, average prices for residential systems in the United States, in the second quarter of 2012 had only fallen to USD 5.5/W, with a range of between USD 4 to USD 8/W. 8000 6000 4000 2000 0 Germany United States residential United States non-residential United States Utility Residential Australian Italian Chinese Japanese FIGURE 6.6: SOLAR PV SYSTEM PRICE TRENDS BY SECTOR AND COUNTRY, 2006 TO 2012 SOURCES: BSW, 2012; PHOTON CONSULTING, 2012; AND SEIA/GTM RESEARCH, 2012. 54 Renewable Power Generation Costs in 2012: An Overview 2011 USD/kW Q2 2006 Q4 2006 Q2 2007 Q4 2007 Q2 2008 Q4 2008 Q2 2009 Q4 2009 Q2 2010 Q4 2010 Q2 2011 Q4 2011 Q2 2012PDF Image | International Renewable Energy Agency
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