![]() German Bank Reports Solar Power Cost In India And Italy Has Reached Grid Parity
From the time solar collectors were invented and made for sale, deriving electricity using them has cost more than doing so from traditional source — mainly coal fired plants. Because of that, solar energy has not grown as fast as some would like and its increased use in recent years has come about only because of government subsidies. Over time however, prices for solar panel components has slowly dropped making them much more price competitive. To achieve grid parity, solar power must be cost competitive with coal or other sources without relying on government or corporate subsidies.
They note that Germany alone accounts for approximately a third of all solar power production, but project that China will soon surpass that country because of a very strong push by the government there. India too is making a strong push — the government has set a goal of producing 20 GW by 2022. The U.S. is also making strides with construction underway in the Mojave Desert of what will soon be the largest solar farm in the world. ![]() |