Solar Panel Prices to Drop 70% by 2020!
Despite what some opponents of solar energy would have you believe, the industry isn’t sputtering to a stop in a classic display of boom and bust.
Like any relatively new industry, there are periods of awkward growth, or “growing pains” as the new McKinsey and Company report “Solar Power: Darkest Before Dawn” plainly states. In fact, the industry is actually set to rebound quite nicely in the very near future.
One of the biggest contributors to this expected rebound is the future cost of PV solar projects. While PV solar projects are quickly getting more affordable, McKinsey believes the prices of commercial systems could plummet by more than 40% by 2015, and an additional 30% by 2020.
The new report also notes that over the next 20 years, growth will come from five different customer segments. Including expected timing of viability, these include:
- Off-grid customers (Now)
- Residential and commercial in areas with good sun conditions (2012-13 and beyond)
- Isolated grids (Now)
- Peak capacity in growth markets (2013-14 and beyond)
- New large-scale power plants (2025 and beyond)
You can read the full report here.
Solar Prices Set to Fall 70% in 8 Years! originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
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