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Solar power is getting to be the cheapest source of electricity

Solar power set to become cheapest source of energy over next decade, German think tank says, ABC News, 25 Feb 15,  The World Today  By Annie White Solar energy is set to become the cheapest source of electricity in many parts of the world within the next 10 years, according to a new report released by German think tank, Agora Energiewende.

The report was commissioned by the independently funded organisation, designed to steer Germany towards its 80 per cent renewable energy target.

Chief executive officer Dr Patrick Graichen said they wanted to see if recent falls in the cost of photovoltaics would continue. “The finding is there’s no end to the cost decline in photovoltaics,” he said. “The technology still has further improvements so we expect that within the next 10 years photovoltaics will become, in many regions of the world, the cheapest source of electricity.”

Dr Graichen said in some sun drenched parts of the world, it would be cheaper than burning fossil fuels.

The Current and Future Cost of Photovoltaics report found the price drop is set to occur even in conservative scenarios, and assuming no major technological breakthroughs.

Dr Graichen, former head of the Division for Energy and Climate Policy at the German Federal Environment Ministry, said the falling price was being driven by several factors.

“It’s the technology itself, the modules have become cheaper because China is now producing them on a very large scale,” he said.

“So we have the effect of the mature technology with a global market, where prices decline, and second, we’ve got to know better how to integrate it into the systems during the past five-six years.”……http://www.abc.net.au/news/2015-02-24/solar-track-becoming-cheapest-energy-source-agora-energiewende/6251322

February 25, 2015 - Posted by | 2 WORLD, renewable

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