Solar energy in 2013 removed its training wheels and started competing with traditional energy sources. In the fourth quarter alone, the average weighted price per watt of solar capacity installed dropped by 15%, averaging $2.59 compared to more than $6 in 2010. Last quarter, SolarCity (NASDAQ:SCTY) installed a total of 70 megawatts of residential solar capacity, cementing its leading position in the U.S. residential solar market. With 41% overall domestic growth last year and sharply declining costs, solar energy is no longer for the wealthy, it's here for the masses.
This segment is from Thursday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors: @TMFEnergy.
Joel South owns shares of SunPower. Taylor Muckerman owns shares of SolarCity. The Motley Fool recommends SolarCity. The Motley Fool owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.