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Keywords:

  • FiT;
  • Tariff;
  • Incentive;
  • Photovoltaic;
  • Demand;
  • Grid-Connected;
  • Off-Grid;
  • Application
Thumbnail image of graphical abstract

This figure shows the trend in average photovoltaic technology prices during a period of significantly high demand growth. Growth in demand during this period was driven by the feed-in tariff incentive model. During this 5-year period, average module prices fell by a compound annual 8%, with demand growing by a compound annual rate of 65%, into gigawatt level. This paper analyzes the industry shift from high incentives to a period of low to no incentives.