Solar energy could become the most economical source of electricity

Polaris solar PV net news: with the advancement of technology, solar power in many parts of the world are becoming more and more economic. Bloomberg recently wrote that solar power is expected in 10 years is expected to surpass coal-fired power, as the world’s lowest-cost power generation option.

Comprehensive data for 2016, solar power in many countries in the world to break the historical rates record, about half the average cost of coal-fired power. Among them, Chile in solar electricity auction in August, 2.91 cents/kWh for a low price in September, U.A.E. took an 2.42 cents/kWh lowest price.

According to Bloomberg, now, Saudi Arabia, Jordan and Mexico have begun to plan this year’s solar power bid, and hopes to further reduce the price. Others include Italy Enel and Ireland some European companies, Mainstream Renewable Power, with lots of, began to look to the emerging markets in the rest of the world.

Statistics show that since 2009, the decline based on supply chain cost, global solar prices have dropped an average of 62%. Bloomberg new energy finance estimates that by 2025, the average generation cost of solar energy in the world likely to be cheaper than coal-fired power.

Director-General of the international renewable energy agency Anan ˙ Amin said: “the solar installed capacity doubled every time, can drive the price of electricity decreased by about 20%. The power market, would be to change the rules of the game change. ”

Bloomberg believes that advances in technology are key elements for solar industry forward. In addition, economies of scale and experience evolves, making solar power’s market competitiveness is increasing. According to Bloomberg new energy finance analysis of solar energy JennyChase introduced there were an average of each additional 1 megawatt solar energy system installation, cost about $1.14/w, but by 2025, this figure will be reduced to 73 cents per watt, declined to 36%.

Market research company analyst at GTM Research MJShiao to the United States as an example, current United States solar power in parts of Southwest’s price close to us $1/Watt by 2021 could fall to 75 cents per watt. However, the United States Department of energy national renewable energy laboratory owned by the forecast is slightly conservative. The senior project manager DonaldChung said by 2020 the costs may be reduced to $1/Watt for solar power, but he also believes that this downward trend will be maintained until 2030.

Solar developers Enviromena Power Systems founder and Chief Executive of Abu Dhabi SamiKhoreibi said that solar power has in fact been opened the “puerile” mode and lower prices will be the future of a “normal”.

According to the International Energy Agency estimated, utility-scale solar power costs, could fall an average of 25% in the next 5 years. The international renewable energy agency expects that by 2025, solar power will cost 43% to 65%, today compared to 2009 levels dropped as much as 84%.

However, Bloomberg noted that although on average the cost of solar power will continue to decrease, but in all countries and regions, the decline may not be the same. In Europe and Brazil, due to imports of coal, carbon tax policy, expected around 2020 solar electricity price is expected to be lower than that of coal-fired power; such as India with large coal reserves of their own countries, solar electricity prices fall to less than coal-fired power generation may take a long time.

Facing the industry optimism about solar power, as a “reference” coal-fired power industry are not “discouraged.”

WCI Chief Executive Benjamin Sporton suggested that renewable energy cost calculations often do not take into account the cost of backup power supply part, once that part of the expenditure is included, the economic advantages of coal-fired power stations will remain obvious even by the year 2035.

“All economies in the process of rapid development, needs all the clock power supply. “Sporton said,” However, wind, and solar power are intermittent electricity supply. Therefore, although some renewable power a significant decrease in costs in recent years, but when it comes to the cost of electricity is to consider the cost of the power supply system as a whole. ”

But, even so, the industry continues to believe that the price of solar power has the ability to participate in market competition “strength”. According to Bloomberg new energy finance predicts that as the world’s largest solar market in China by 2030 can achieve solar power costs less than coal-fired power. In addition, countries with relatively good sunlight conditions and possible future leader in reducing power generation costs.

“We have seen a new market reality. “Khoreibi said,” solar energy is likely to be the lowest-cost sources of power in the future. It can be predicted that with the development of technology, solar power costs will continue to decline. ”

Original title: solar energy could become the most economical source of electricity

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