Solar energy is growing fast as total capacity worldwide surges with the decline of solar-panel prices. It’s cheap and it works.

How to further reduce the price of solar panels has become an important topic as solar electricity’s share of the overall energy supply grows globally. Several studies have focused on manufacturing and technological developments as the main reasons behind the most recent drop in global solar-panel prices.

But a more recent study done for the Asian Development Bank Institute says that monetary variables, oil prices, and demand for solar panels due to environmental concerns also determine solar-panel prices.

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Read the working paper

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About the authors

Farhad Taghizadeh-Hesary is assistant professor of economics at Waseda University, Tokyo.

Naoyuki Yoshino is the dean of ADBI.

Yugo Inagaki is an alumnus of Keio University.

Know more about ADBI’s work

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