Chinese-made photovoltaic panels have fallen to roughly $0.12 per watt, down from about $5-$6 a watt around 2000, triggering a global boom in cheap distributed solar for homes, businesses and factories. That price collapse is driving rapid rooftop adoption in both developed and emerging markets: India added a record 44 GW of solar last year to reach about 154 GW of installed capacity and is projected to meet roughly half of its electricity demand growth through 2030; Australia now has panels on more than 4.3 million properties; and plug-and-play systems are gaining traction across Europe. The shift from centralized to decentralized generation is reshaping where and how electricity is produced, lowering costs and shortening payback times.
The impact is especially pronounced where grids are unreliable or expensive. In the Philippines residential rooftop capacity almost doubled year-on-year, with rooftop systems generating hundreds of gigawatt-hours in early 2026 and payback periods near three years. A Pakistani cement producer deployed 26 MW at one plant, supplying over a quarter of its electricity and cutting power costs by up to 40%. Africa is on pace for a record ~17 GW of solar installations in 2026 (about 45% y/y growth), driven largely by small-scale commercial and industrial rooftop systems. Cheap panels, supportive policies and favorable geography are accelerating industrialization and decentralization on solar power.
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