Solar at 2.99 cents/kWh May 5, 2016Posted by Maury Markowitz in Uncategorized.
Tags: grid parity, LCoE, solar power
I guess this is starting to sound a little repetitive, but yet another record has been set for solar PV – at a whopping 2.99 cents/kWh, well down into the range of unfiltered coal plants or high-quality hydro. Now again, this is in Dubai, which tends to be sunny, but, again, that’s like complaining we built hydro where there’s a river.
Now you might want to dismiss this number because it’s Dubai. But only last month another contract was signed at 3.45/kWh in Mexico, and it was only a few months ago that everyone was stunned by the Saudi and Nevada numbers at 5.85. That means the price has fallen almost 50% in the last year.
Now whether this is simply because of a temporary oversupply situation in China I can’t say, but it doesn’t make a difference. Solar is now cheaper than coal, and from here out, always will be. Welcome to that future everyone was talking about in the 70’s.