What does it mean for a technology to follow Wright's Law?

Learning curves: What does it mean for a technology to follow Wright’s Law? Technologies that follow Wright’s Law get cheaper at a consistent rate, as the cumulative production of that technology increases. Technologies that follow Wright’s Law get cheaper at a consistent rate, as the cumulative production of that technology increases. The best way to explain what this means is to look at a concrete example. Solar technology: an example of a technology that follows Wright’s Law The time series in the chart shows the deployment of solar panels on the horizontal axis and the price of solar panels on the vertical axis. The orange line that describes the relationship between these two metrics over time is called the learning curve of that technology. Download image As the cumulative installed capacity increased, the price of solar declined exponentially. Solar technology is a prime example. For more than four decades, the price of solar panels declined by 20% with each doubling of gl ... Read full article.