In almost all of the world (except the USA, which has specific local cost challenges), system photovoltaic (PV) costs have come down a lot, to about €2 per installed watt. A large part of the reduction in system costs has come about through Swanson's Law, which is the Moore's Law of PV modules: module prices reduce by 20% for each doubling of shipped capacity. PV module costs continue to come down, and that puts more pressure on the balance-of-system costs (everything else that goes into the system) - inverters, wiring, support structures, labour costs, compliance costs and business overheads.
Inverter costs are now a large part of non-module costs - around €0.50 per continuous Watt.
I sounded out an academic expert in the field, who said he thought inverters could still halve in price from here.
So, my question is, what will it take to get inverter prices down from here?
Specific elements of this question that might help clarify an anwer, would include things like: how much prices come down, for each doubling of installed capacity; and whether the PV market (about 40GW this year) is a large proportion of the inverter market, where individual inverters are in the range of a few kilowatts to megawatts continuous?