Solar Price Reductions

Solar Prices Set to Fall 70% in 8 Years!

Written by Green Chip Stocks
Posted May 2, 2012 at 3:33PM

Despite what some opponents of solar energy would have you believe, the industry isn’t sputtering to a stop in a classic display of boom and bust.

Like any relatively new industry, there are periods of awkward growth, or “growing pains” as the new McKinsey and Company report “Solar Power: Darkest Before Dawn” plainly states. In fact, the industry is actually set to rebound quite nicely in the very near future.

One of the biggest contributors to this expected rebound is the future cost of PV solar projects. While PV solar projects are quickly getting more affordable, McKinsey believes the prices of commercial systems could plummet by more than 40% by 2015, and an additional 30% by 2020.

The new report also notes that over the next 20 years, growth will come from five different customer segments. Including expected timing of viability, these include:

  • Off-grid customers (Now)

  • Residential and commercial in areas with good sun conditions (2012-13 and beyond)

  • Isolated grids (Now)

  • Peak capacity in growth markets (2013-14 and beyond)

  • New large-scale power plants (2025 and beyond)

You can read the full report here.

Enjoy this article? Get more in our Free Newsletter

Get the inside track on the most lucrative stock plays in today's scorching-hot alternative and renewable energy markets.

Sign up for the FREE Energy and Capital daily e-Letter from alternative energy experts Jeff Siegel and Nick Hodge. We'll also send you our latest report on Wind Investing straight to your inbox.

Your Privacy is Assured.

Jeff Siegel on CNBC

Green Chip Stocks Editor Jeff Siegel, featured guest on CNBC's Green Week

Related Articles

The Truth About Solar
Jigar Shah offers a voice of reason in the solar debate.
India Solar Update
Karnataka Solar Mission will offer 350 megawatts of solar in four years.
India Solar Development
India's National Solar Mission is within reach.