Day: 19 November 2014
Cost reduction potential of large-scale solar PV
The STA analysis shows that the cost reduction of large-scale solar will occur more rapidly than DECC's costs have shown: a 33% drop in costs to 2020, with a further 11% reduction in the period 2020-2030. While individual technology cost is not the only consideration in developing efficient low-carbon electricity systems, this reduction would indicate that solar PV is cheaper than gas (Combined Cycle Gas Turbine or CCGT) by 2018, five years earlier than DECC suggest. It also implies that solar PV becomes cheaper than the wholesale electricity price between 2025 and 2028 - grid parity.
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