The cost of solar panels has decreased dramatically in the last 10 years, going from over $8/watt to $3/watt. Based on the Jevons paradox, what would you predict should have happened to the demand for solar panels?

Question

Quizplus · Accepted Answer

The Jevons paradox suggests that as technology becomes more efficient and cheaper, the demand for it increases because it becomes accessible to a wider range of consumers and its applications broaden, thus in the case of solar panels, as their cost decreased, demand should have increased.

The Cost of Solar Panels Has Decreased Dramatically in the Last