Solar Project Costs Will Drop by Half in a Decade, BNEF Says
The cost of developing a solar power project will fall by half in the next decade worldwide, making energy from the sun more competitive with fossil fuels, Bloomberg New Energy Finance estimated.
“The most powerful driver in our industry is the relentless reduction of costs,” said Michael Liebreich, chairman of the research group, at a conference in New York today. “In a decade the cost of solar projects is going to halve again.”
The cost of large solar photovoltaic projects, now $3.02 a watt for the power generated, will decline to $1.45 a watt in 2020, New Energy Finance said.
To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
Rate this Page