Monday, May 4, 2015

25 Cents Per Watt for Solar Panel?!

In January 2015, Saudi Arabian company ACWA Power surprised industry analysts when it won a bid to build a 200-megawatt solar power plant in Dubai that will be able to produce electricity for 6 cents per kilowatt-hour. The price was less than the cost of electricity from natural gas or coal power plants, a first for a solar installation. Electricity from new natural gas and coal plants would cost an estimated 6.4 cents and 9.6 cents per kilowatt-hour, respectively, according to the U.S. Energy Information Agency. Technological advances, including photovoltaics that can convert higher percentages of sunlight into energy, have made solar panels more efficient. At the same time economies of scale have driven down their costs.  Read more at http://www.climatecentral.org/