PV panel prices stabilized in 2013, and with China stepping up its purchases, supply and demand are more in balance. PV manufacturers cannot invest in new plant until they are profitable, so the industry seems to be moving to a more solid footing. As the industry consolidates around a few big players, economies of scale and more efficient new plants will drive costs down. Historically, business will first use this cost reduction to restore profit margins rather than reduce prices. All this points to PV panel prices of about $0.75/W for the foreseeable future.