Solar PV could be the cheapest form of power within a decade
A major new study from a leading German think tank says the cost reduction potential of large scale solar is still misunderstood, and predicts that solar PV will be the cheapest form of power within a decade, and cost less than $US0.02/kWh by 2050, writesRenew Economy.
The study by the Berlin-based Agora Energiewende says that the end to cost reductions from solar plants is “not in sight”, even after falling more than 80 per cent in recent years.
It cites a range or reasons for this. Primarily, though, it comes down to an expected doubling in module efficiency, which will mean less panels are needed to produce the same amount of power, and therefore less land, less materials, less maintenance and lower installation costs.