All of this goes to reinforce a recent study by Joshua Pearce at Queen’s University in Kingston, Ontario, who found that cost estimates for solar technology used by energy analysts are greatly inflated. The technology is changing so fast that many studies don’t reflect the newest realities. For instance, the cost of solar panels has dropped 70% since 2009, and their productivity only declines 0.1% to 0.2% per year, rather than the 1% per year that was the norm. The bottom line? Commonly used studies have listed dollars-per-watt of electricity as high as $7.61. According to Dr. Pearce, the real cost in 2011 is under $1 per watt.