Dive Brief:
- The average cost of utility-scale solar has plunged to 11.2 cents/kWh from 21.4 cents/kWh in 2010, according to the Department of Energy (DOE).
- The drop in photovoltaic prices is likely the main reason utility-scale projects are dropping in cost.
- DOE's SunShot program aims to get the cost of solar down to 6 cents/kWh in 2020. At that price it could compete head to head with new natural gas-fired generation.
Department of Energy
(Click to expand chart.)
Dive Insight:
The cost of solar has plummeted in the last three years. While the cost of PV probably will fall at a much slower pace in coming years, there are developers that are focused now on cutting other costs in project development. It seems likely that PV will soon compete directly with natural gas-fired plants.
