The PV industry has seen drops in module prices since 2008. In late 2011, factory-gate prices for crystalline-silicon photovoltaic modules dropped below the $1.00/W mark. The $1.00/W installed cost, is often regarded in the PV industry as marking the achievement of grid parity for PV. These reductions have taken many stakeholders, including industry analysts, by surprise, and perceptions of current solar power economics often lags behind reality. Some stakeholders still have the perspective that solar PV remains too costly on an unsubsidized basis to compete with conventional generation options. Yet technological advancements, manufacturing process improvements, and industry re-structuring, mean that further price reductions are likely in coming years.