Future of SOLAR# Stock
U*f
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For large-scale installations, prices below $1.00/watt are now common. In
some locations, PV has reached grid parity, the cost at which it is
competitive with coal or gas-fired generation. More generally, it is now
evident that, given a carbon price of $50/ton, which would raise the price
of coal-fired power by 5c/kWh, solar PV will be cost-competitive in most
locations. The declining price of PV has been reflected in rapidly growing
installations, totalling about 23 GW in 2011. Although some consolidation is
likely in 2012, as firms try to restore profitability, strong growth seems
likely to continue for the rest of the decade. Already, by one estimate,
total investment in renewables for 2011 exceeded investment in carbon-based
electricity generation.
some locations, PV has reached grid parity, the cost at which it is
competitive with coal or gas-fired generation. More generally, it is now
evident that, given a carbon price of $50/ton, which would raise the price
of coal-fired power by 5c/kWh, solar PV will be cost-competitive in most
locations. The declining price of PV has been reflected in rapidly growing
installations, totalling about 23 GW in 2011. Although some consolidation is
likely in 2012, as firms try to restore profitability, strong growth seems
likely to continue for the rest of the decade. Already, by one estimate,
total investment in renewables for 2011 exceeded investment in carbon-based
electricity generation.