Swanson's Law

The price of solar panels drops 20% for every time the quantity shipped doubles. This is similar to Moore’s Law for computing power and shows the increased efficiency as more experience is gained by an industry. This relies heavily on early buyers willing to buy at a premium thereby funding the future efficiency.

This can be applied more broadly to any emerging technology. If Swanson’s Law holds, increasing the amount of early buyers will accelerate the industry towards lower, more accessible prices. For example, in the case of climate change, buying early carbon capture technologies at scale could accelerate progress in reducing overall greenhouse emissions.