Solar PV - prices set to fall and competitiveness increase
Solar photovoltaic (PV) will be a competitive energy source and up to 50% cheaper to install within the next decade according to a new report.
The European Photovoltaic Industry association (EPIA) latest report Solar Photovoltaics competing in the energy sector - on the road to competitiveness highlights boom times for solar in the run up to 2020.
According to the report's analysis of the electricity markets of France, Germany, Italy, Spain and the United Kingdom - PV competitiveness with grid electricity can be achieved in some countries as early as 2013.
The report also claims it will then spread across the continent in the different market segments as markets mature towards the end of the decade in 2020.
Research in the report also suggests that over the next ten years PV system prices could fall by up to 51% as prices of modules, inverters and structural components fall.
During the same period increased PV efficiency, economies of scale and the development of mature markets should, claims the report, come together to create cheaper solar.