Solar Power To Become Cheapest Source Of Energy In Many Regions By 2025

community solarSolar power still amounts for a small share of net electricity generation around the world. In the USA, for instance, as of December 2014 it was responsiblefor just 0.45% of the total electricity produced.

Things are changing quite quickly, however, and if the German think tank Agora Energiewende is right, faster than expected.

The main obstacle to a more widespread adoption of photovoltaic so far, has been cost: solar used to be very expensive compared to coal or gas, but, according to Agora – that recently commissioned a study on the subject to the Fraunhofer Institute for Solar Energy Systems – this is no longer true.

Solar power – researchers say – thanks to technological advancements, is already cost-effective in some sunny regions: in Dubai, a long-term power purchase contract was signed recently for 5 cents per kilowatt hour. Projects under construction in Brazil, Uruguay and other countries are reported to produce at costs below 7 ct/KWh.

 




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