Cost of Clean Energy Seen Nosediving Into the Next Decade
- Solar panels systems may be nearly 60% cheaper by 2025: Irena
- Policy can make a difference with auctions, cost of capital
Photovoltaic panels stand near electricity pylons in the Sishen solar park in Kathu, Northern Cape, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
The cost of renewables technology is set to keep falling into the next decade, boosting the economic case for clean energy, according to an industry group.
The average cost of electricity from a photovoltaic system is forecast to plunge as much as 59 percent by 2025, according to a report Wednesday by the International Renewable Energy Agency. The technology last year produced energy that was already 58 percent cheaper than it was in 2010, the Abu Dhabi-based industry group said.