Solar Could Beat Coal to Become the Cheapest Power on Earth

Jessica Shankleman  and Chris Martin for Bloomberg:  Solar power is now cheaper than coal in some parts of the world. In less than a decade, it’s likely to be the lowest-cost option almost everywhere.

In 2016, countries from Chile to the United Arab Emirates broke records with deals to generate electricity from sunshine for less than 3 cents a kilowatt-hour, half the average global cost of coal power. Now, Saudi Arabia, Jordan and Mexico are planning auctions and tenders for this year, aiming to drop prices even further. Taking advantage: Companies such as Italy’s Enel SpA and Dublin’s Mainstream Renewable Power, who gained experienced in Europe and now seek new markets abroad as subsidies dry up at home.

Since 2009, solar prices are down 62 percent, with every part of the supply chain trimming costs. That’s help cut risk premiums on bank loans, and pushed manufacturing capacity to record levels. By 2025, solar may be cheaper than using coal on average globally, according to Bloomberg New Energy Finance.  Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

SolarEdge Technologies - Solar Inverters, Power Optimizers and PV Monitoring

SolarEdge Technologies - Solar Inverters, Power Optimizers and PV Monitoring

The SolarEdge PV inverter combines sophisticated digital control technology with efficient power conversion architecture to achieve superior solar power harvesting and best-in-class reliability. The fixed-voltage technology ensures the solar inverter is always working at its optimal input voltage over a wider range of string lengths and regardless of environmental conditions. A proprietary data monitoring receiver has been integrated into the inverter and aggregates the power optimizer performance data from each PV module. This data can be transmitted to the web and accessed via the SolarEdge Monitoring Portal for performance analysis, fault detection and troubleshooting of PV systems.