（The last part)Late 20th century
The energy crisis of the early 1970s spurred the first commercialization of solar energy technology. Oil shortages in the industrialized world led to slow economic growth and high oil prices. In response, the U.S. government created financial incentives for commercial and residential solar systems, research and development institutions, demonstration projects using solar power in government buildings, and a regulatory structure that still supports the solar industry today. With these incentives, the cost of solar panels dropped from $1,890/watt in 1956 to $106/watt in 1975 (prices adjusted for inflation).
From an expensive but scientifically sound technology, solar energy has benefited from continued government support to become the lowest-cost energy source in history. Its success follows an S-curve, where a technology initially grows slowly, driven only by early adopters, and then experiences explosive growth as economies of scale bring down production costs and supply chains expand. in 1976, solar modules cost $106/watt, while by 2019 they had fallen to $0.38/watt, with 89% of the decline occurring in 2010.
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Post time: Mar-07-2023